Donald Trump won the 2024 U.S. presidential election with a significant margin, carrying all seven swing states and winning the popular vote for the first time. Despite facing legal challenges and previous electoral defeats, Trump's comeback is being hailed as historic. His opponent, Kamala Harris, underperformed due to limited appeal, policy shifts, and lack of differentiation from the Biden administration, leading to declining Democratic support among key demographics, including Hispanic and Black men.

In his victory speech, Trump pledged to unify the country, mirroring his tone in 2016, though he is expected to implement controversial policies with strong Republican backing in both Congress and the Supreme Court. His agenda includes mass deportations, trade tariffs, and reshaping the Justice Department to align with his objectives, sparking concern among American allies. Trump's approach continues to reshape conservatism, positioning his populist ideology as an influential force within and beyond the Republican Party. Meanwhile, Democrats grapple with strategic missteps and the broader implications of Trumpism’s appeal.

The legalization of political betting in the U.S. saw Kalshi, a betting exchange, clear $400 million in wagers shortly before the 2024 election. While other prediction markets like Polymarket and PredictIt were also active, they collectively favored Donald Trump’s odds over Kamala Harris’s, aligning more closely with Trump’s victory than pre-election polls did. Betting markets generally perform well by aggregating individual wagers, capturing a “wisdom of the crowd” effect. However, it’s unclear if 2024’s accuracy reflected true insight or mere luck; factors like a Trump-supportive bias among crypto-savvy users may have influenced outcomes. Notably, none of the betting markets anticipated Trump’s strong popular vote lead, revealing that while speculators can offer valuable perspectives, their foresight is limited.

India is experiencing a significant shift towards participatory capitalism as millions of households, often near the poverty line, invest in the stock market. Around 100 million Indians now own small shares in publicly traded companies, with one in five households holding shares, up from one in 14 just five years ago. Digitization and the launch of accessible mutual funds have lowered entry barriers, allowing small investors to join the market. This boom has led to soaring Indian stock prices, though they’re now more expensive relative to profits. However, risks accompany this growth, especially for inexperienced investors who have not faced downturns before. Retail trading in derivatives has surged, now making up 80% of global turnover, and an influx of IPOs has further fueled excitement. Despite these opportunities, inflated stock valuations, potential bubbles, and high losses among individual traders in derivatives signal a volatile future. Regulators have introduced new rules to curb excessive risk-taking, especially in derivatives, as they seek to protect investors from potential losses in the overhyped market.

Following Donald Trump’s recent electoral victory, Wall Street executives - many of whom were initially hesitant or opposed to him - are now rallying around his anticipated pro-business policies. Trump’s “ambassadors,” like Gary Cohn and Howard Lutnick, serve as intermediaries between Trump’s team and finance leaders, many of whom are eager for lower taxes, reduced regulation, and a resurgence in dealmaking. Prominent financiers, including Paul Singer and Stephen Schwarzman, who previously distanced themselves, are now aligning with Trump. Dealmakers anticipate a boost in mergers and acquisitions, especially with the possibility of replacing regulators like Lina Khan, who have applied strict antitrust laws. However, concerns remain over Trump’s trade stance, potential tariffs, and volatile foreign policy, which could impact international markets. While Trump’s policies are seen as beneficial for Wall Street, his populist approach and unpredictable style leave some executives wary of potential economic risks.

The Federal Reserve's rate projections, previously outlined in September, are now highly uncertain due to changing economic conditions. After a quarter-point rate cut in November, markets are dialing back expectations for further cuts in December. While the Fed had initially anticipated more easing by 2025, the likelihood of significant cuts is now in question. Fed Chair Jerome Powell cited stronger-than-expected economic data, such as job growth and retail sales, suggesting downside risks to the economy have diminished. However, potential challenges like President-elect Donald Trump's fiscal policies, including tariffs and immigration enforcement, could complicate the Fed's decisions. Additionally, rising stock prices and bond yields already affecting the economy could influence the Fed’s future actions. The evolving political landscape, especially regarding potential tensions between the Fed and the White House, adds further uncertainty to future rate movements. As a result, predicting the path of interest rates has become increasingly difficult.

Luxury goods have become significantly more expensive, but their quality has not improved to match the price hikes. Shoppers, motivated by emotional desires to signal status, are increasingly questioning whether these high prices are justified. Despite luxury brands’ ability to charge substantial markups—often 8 to 12 times production costs—sales have started to slow down. While some brands like Hermès continue to perform well, others, like Gucci, have seen steep declines. The rise in prices has contributed to higher profit margins, but the focus has shifted from quality to managing demand, especially after pandemic-driven surges. Negative sentiments about prices are increasing, with social media reflecting anger and frustration. Many luxury brands have democratized access by targeting middle-class consumers, but this strategy has made them reliant on a broader customer base. The industry's shift towards higher prices risks alienating these consumers, and some brands may be losing their ability to make customers feel privileged for spending exorbitant amounts.

China has unveiled a Rmb10 trillion ($1.4 trillion) fiscal stimulus package to address its struggling economy and local government debt, amid rising trade tensions with the US under President Trump. The package aims to restructure around Rmb14 trillion in "hidden" debts held by local governments, largely linked to failed investments in infrastructure and the real estate sector. While the plan is significant, it fell short of market expectations for more support targeting consumer spending. Additionally, China is exploring further measures to recapitalize banks, purchase unfinished properties, and boost consumption, as the economy faces challenges such as a slowdown in housing and GDP growth. The announcement led to a weaker renminbi and falling commodity prices, indicating lower growth expectations.

US president-elect Donald Trump has appointed Susie Wiles as his White House chief of staff for his upcoming administration. Wiles, who played a pivotal role in Trump’s 2016 and 2020 campaigns, co-managed his 2024 campaign alongside Chris LaCivita. Trump praised Wiles for her toughness, intelligence, and innovation, calling her "universally admired and respected." Wiles, 67, has a long history in Republican politics, having worked on major campaigns since the 1980s, including Ronald Reagan’s presidential run, Rick Scott’s Florida governorship, and Trump’s 2016 victory. She will become the first female chief of staff in US history.

US Treasuries have regained their losses following a dramatic sell-off after Donald Trump's election victory. This recovery was sparked by Federal Reserve Chair Jay Powell's comments indicating it was too early to assess how Trump's policies might affect interest rates. Following the election, investors initially anticipated higher growth and inflation, pushing the 10-year Treasury yield to a four-month high of 4.48%. However, these expectations were tempered in the following days, as traders unwound their bets, and Powell refrained from speculating on the potential impact of Trump’s policies. The Fed's decision to cut interest rates further reinforced this cautious outlook, with traders predicting a 90% chance of another rate cut in December.

The UN's Food and Agriculture Organization and World Food Programme warn that acute food insecurity is set to worsen in Sudan and 21 other countries between November 2024 and May 2025, primarily due to conflict and violence. The report highlights Sudan, South Sudan, Mali, Palestine, and Haiti as being at the highest risk, facing famine or catastrophic food shortages. The ongoing 18-month conflict in Sudan has disrupted food systems and displaced millions, exacerbating hunger. Additionally, extreme weather events like floods and the expected La Niña climate phenomenon could worsen food insecurity in several countries. The report calls for immediate international action and humanitarian aid to prevent further starvation and loss of life.

As Donald Trump prepares for a potential return to the White House, conservative groups, particularly the Project 2025 coalition, are seeking to influence his staffing and policy choices. Project 2025 advocates for reducing the federal government, expanding political appointees, restricting immigration, eliminating the Department of Education, and curtailing LGBTQ+ rights and diversity initiatives. It also promotes policies like limiting abortion access and increasing the use of school vouchers. Although Trump has distanced himself from the group, its agenda mirrors his past positions, particularly on immigration, abortion, and education. Other influential groups, like the America First Policy Institute, are working behind the scenes to align with Trump’s agenda, with plans to focus on issues such as immigration, education, energy, and election integrity. These groups have been actively preparing a detailed policy framework for Trump's second term, with a significant emphasis on conservative values and government overhaul.

A UN report highlights the severe impact of two years of drought in the Amazon rainforest, which has left nearly half a million children facing food and water shortages, and limited access to education and healthcare. Extreme heat, deforestation, and climate phenomena like El Niño have caused rivers to dry up, isolating communities and making travel by boat impossible. More than 1,700 schools and 760 health centers have become inaccessible. The drought has worsened health issues such as malaria, dengue fever, and malnutrition, particularly among young children. Local fish populations and wildlife, including river dolphins, are also suffering. Unicef estimates $10 million is needed to provide urgent aid to the affected communities across Brazil, Colombia, and Peru. The crisis underscores the growing effects of climate change in the region, with devastating consequences for both the local population and the environment.