We are experiencing some temporary issues. The market data on this page is currently delayed. Please bear with us as we address this and restore your personalized lists.
Trump Expands Lead as Harris Path Narrows Toward Blue Wall
1 / 13
Trump Expands Lead as Harris Path Narrows Toward Blue Wall
Josh Wingrove
6 min read
(Bloomberg) -- Republican nominee Donald Trump has jumped out to a lead over Democrat Kamala Harris in the race for the presidency, with markets swinging in expectation of his possible victory even as vote counting continued.
Trump won his first battleground state, holding North Carolina, and leads Georgia with over 90% of votes counted. He holds a more tentative advantage across Wisconsin, Michigan, and Pennsylvania, the so-called Blue Wall states where tabulation was in much earlier stages.
None of those Blue Wall states have been called by major networks or the Associated Press, leaving open a path for Harris to close the gap as votes roll in from densely populated cities and suburbs that are Democratic strongholds.
Markets were responding to the initial results favoring Trump with trades linked to a Republican victory. S&P 500 futures were up 1.2%, US 10-year yields surged 17 basis points to a four-month high of 4.44% as traders speculated his policies would keep interest rates elevated. Bitcoin spiked 6.9% to a record.
Harris campaign chairwoman Jennifer O’Malley Dillon in an email to staff as polls closed across the continental US acknowledged that their “clearest path to 270 electoral votes lies through the Blue Wall states.” While the memo didn’t explicitly preclude a Harris comeback in Georgia, it made clear that Democrats were narrowing their hopes.
Other results went largely as expected — West Virginia’s open Senate seat flipped to the Republicans while other key races that could tip the chamber as well as the House of Representatives remained too close to call.
Trump easily won his home state of Florida, including some key heavily Hispanic counties. Harris took Democratic strongholds including New York, New Jersey, Massachusetts and Connecticut.
Polls have closed in all of the battlegrounds, comprising Georgia, North Carolina, Pennsylvania, Michigan, Arizona, Wisconsin and Nevada, though voting hours have been extended in small pockets where irregularities were reported.
Angela Alsobrooks was named the winner of the Maryland Senate race, defeating the state’s Republican former governor, Larry Hogan, in a Democratic-leaning state. Fox News projected that Texas Senator Ted Cruz had won reelection, snuffing out what some Democrats had hoped was a longshot pickup opportunity.
Exit polls suggested voters remained frustrated with the state of the economy in exit polls released Tuesday afternoon by a consortium of networks that included NBC News, Fox News, and CNN.
Amost half of all surveyed voters — 48% — said they are very concerned about the cost of gas and 51% said they’re concerned about housing costs. Only 26% of voters said they were enthusiastic or satisfied with the way things are going, while 72% were dissatisfied or angry. President Joe Biden’s approval rating sits at 41%.
Trump cast his own ballot at a recreation center in Palm Beach, Florida, alongside former first lady Melania Trump, before stopping by his campaign headquarters to thank staff. The former president expressed confidence to reporters but asked his supporters to remain in line and ensure they could cast their ballots.
Harris earlier this week said she had voted by mail in her home state of California. On Tuesday, she sat for a series of radio interviews with stations across key battleground states and visited Democratic National Committee headquarters to aid in phone banking efforts.
Speaking to reporters on Tuesday, Trump lamented it could be days until a winner is clear in Pennsylvania, the most populous of the swing states. And he addressed concerns about unrest, saying there would not be violence from his supporters.
Long lines were reported in several states and there were no signs of major issues. Bogus bomb threats briefly delayed voting at some locations in Georgia. Those threats will extend voting hours at some precincts.
“Georgia’s not going to be intimidated,” the state’s top election official, Brad Raffensperger, said. The FBI attributed the threats to Russian email domains.
Trump on social media has urged supporters on stay in line and wait out any disruptions to voting.
In Las Vegas, the Allegiant Stadium was turned into the “largest polling location in the history” of the state, said Nevada Secretary of State Cisco Aguilar.
“Nevada’s experienced some of the largest turnout they’ve seen, especially among our youth voters,” he said in an interview outside of the stadium.
The two parties are also fighting for control of Congress with huge implications for the incoming president to achieve their policy goals and with a handful of races for the House of Representatives and the Senate expected to help determine that outcome. Polls indicate the odds of a sweep — where one party captures the White House and both chambers of Congress, as happened in 2016 and 2020 — are low, curtailing the power of the next president.
Independent Senator Bernie Sanders won reelection in Vermont, while Republican Jim Justice flipped the West Virginia Senate seat being held by outgoing Democrat-turned-independent Joe Manchin.
In North Carolina, Democrat Josh Stein defeated Republican Mark Robinson, who gained national notoriety after a report that he had posted racially inflammatory comments online, in the governor’s race.
The 2024 presidential campaign marked one of the most contentious and unpredictable contests in US history, with Biden becoming the first incumbent to forgo a reelection bid in over half a century, Trump surviving two failed assassination attempts — and managing to unify his party despite being the first former president convicted of a felony, one of a slew of legal challenges.
Harris for her part is embarking on a historic bid to become the first Black woman and first Asian American president in a truncated campaign she only launched in late July after Biden’s exit from the race. The vice president, despite being in the incumbent administration, has sought to cast herself as an agent of change, and urging voters to turn the page on Trump, who she has called a danger to freedoms and to US democracy itself.
A Trump victory would mark a defiant return to the Oval Office after he left Washington in disgrace following the attack on the US Capitol by supporters seeking to block certification of the 2020 election. He’s running as the first former US president convicted of a felony following a Manhattan trial over hush-money payments and faces other indictments.
More than $14.8 billion has been spent on this election, on track to top the levels spent in 2020 as everyone from small-dollar donors to billionaires like Musk, have poured money into the contest. Musk is expected to join Trump at his Mar-a-Lago home in south Florida.
Harris is slated to watch the election-night returns roll in from her alma mater Howard University in Washington, DC., while the Trump campaign is holding its watch party at the Palm Beach Convention Center.
--With assistance from Tanaz Meghjani, Jenny Leonard, Skylar Woodhouse, Stephanie Lai, Nancy Cook and Akayla Gardner.
