Billionaire Elon Musk stands to benefit greatly from his ties with U.S. President-elect Donald Trump after the Tesla (NASDAQ:TSLA) CEO became one of Trump's most important supporters during the 2024 campaign. 

Citi forecasted on Wednesday that U.S. President-elect Donald Trump's second term could exert downward pressure on oil through 2025, with Brent crude forecasted to average at $60 per barrel, primarily due to potential trade tariffs and increased oil supply.

U.S. stock index futures steadied in evening deals on Wednesday after Wall Street surged to record highs on Donald Trump winning the 2024 presidential election, with focus now shifting to the Federal Reserve. 

Mizuho (NYSE:MFG) has added Nvidia (NASDAQ: NASDAQ:NVDA) as a new top pick for November, underscoring its strong position in the AI and data center market.

The U.S. dollar soared Wednesday, set for its biggest one-day rise since March 2020, as Donald Trump closed in on presidential victory, while a Republican clean sweep of Congress also looked likely.

Oil prices fell as much as 2% on Wednesday after two sessions of gains, as the dollar surged on projections that Republican Donald Trump had won the U.S. presidential election, and as U.S. crude stocks rose more than forecast.