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US stock markets close with mixed results

The US stock market has closed with mixed results as investors rebalance the books following the election of Donald Trump to the presidency.

The Dow Jones industrial average hit an all-time high Credit: Reuters

The Dow Jones industrial average hit an all-time high in same-day trading at 18.873.6, and closed more than 200 points higher.

Others painted a more balanced picture. The Nasdaq composite under-performed, knocking out earlier gains and briefly falling two per cent, while the so-called FANG (Facebook, Amazon, Netflix and Alphabet) stocks closed at around 0.8 per cent lower.

Terry Sandven, chief equity strategist at US Bank Wealth Management, told CNBC that equities were still adjusting to the change and uncertainty surrounding a Trump presidency.

"There still needs to be more clarity and that's going to impact equity prices," he said.

But Art Hogan, chief market strategist at Wunderlich Securities, said conciliatory speeches from both candidates had helped the market recover from an initial nosedive as the results came in.

"You have the potential for growth policies to be put forward with Republicans controlling the White House and Congress," he added.

Sanders vows to fight Trump if he turns on minorities

Bernie Sanders has vowed to fight against anger which targets minorities. Credit: Reuters/Brian Snyder

Senator Bernie Sanders, who ran against Hillary Clinton for the Democratic Party presidential nomination, has said he will oppose President-elect Donald Trump if he "takes people's anger and turns it against" minority groups.

In a message posted on Twitter, Mr Sanders pledged that if people emboldened by Mr Trump's presidency targeted minorities, he would become his "worst nightmare."

He also warned the Democrats about its perception as a party for the rich when its stated purpose is to stand up for the poor.

In a statement issued after Mr Trump's victory in the US election, Mr Sanders said he had "tapped into the anger of a declining middle class".

To the degree that Mr Trump is serious about pursuing policies that improve the lives of working families in this country, I and other progressives are prepared to work with him.

To the degree that he pursues racist, sexist, xenophobic and anti-environment policies, we will vigorously oppose him.

– Senator Bernie Sanders

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Obama 'reassured by Trump's tone' in White House meeting

Serving President Barack Obama has been "reassured" following a meeting with President-elect Donald Trump, a White House spokesman has said.

In a briefing with journalists, Josh Earnest said Mr Obama "found reassuring" the "kind of tone" used by Mr Trump in the meeting.

"It doesn't mean they agree on all the issues - they obviously have deep disagreements," he said.

"but what they do agree on is a commitment to a smooth and effective transition and that's a good thing for the country."

Melania Trump discussed raising children in White House

Michelle Obama and incoming First Lady Melania Trump discussed the challenges of raising children in the White House when they met on Thursday, according to a White House spokesman.

Melania Trump and Michelle Obama 'discussed raising children in the White House' Credit: White House

Mrs Trump's 10-year-old son Barron Trump will have "a rather unique childhood," spokesman Josh Earnest said.

He added that Mrs Obama and President Barack Obama also had a similar experience of raising a family in the White House, and they talked about being a good parent in these "unique" circumstances.

Melania Trump stepped into the White House alongside her husband Donald Trump. Credit: Reuters

Obama and Trump aim for smooth handover of power

  • Video report by ITV News Washington Correspondent Robert Moore

US President Barack Obama and President-elect Donald Trump have both stressed the need for a smooth and calm handover of power as they met face-to-face for the first time.

After a meeting at the White House, which must have been slightly awkward given their previous harsh words during a bitter campaign, Mr Trump and Mr Obama were able to hide any animosity and spoke of their mutual respect.

"President Obama came away from the meeting with renewed confidence in the commitment of the President-elect to engage in an effective, smooth transition," White House spokesman, Josh Earnest, told a news briefing.

Can Trump keep his campaign promises on the economy?

Donald Trump's economic pledges - such as doubling growth and scrapping trade deals - were among the campaign promises which won him the US presidency.

His pro-business stance was welcomed by the US stock market today with the Dow Jones stock market reaching a record high. But there are still a number of obstacles which could stop him keeping his promises.

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What are Trump's first tasks now he's been elected?

A meeting between Donald Trump and Barack Obama has given the President-elect a taste of what's to come.

As work begins in earnest to create the Trump administration, here's what his first tasks might involve:

  • Putting a new White House team in place including his Chief of Staff and Secretaries of State and Defense.
  • In total he must make 4,000 political appointments.
  • The process of Trump becoming Commander-in-Chief starts with daily in-depth intelligence briefings
  • There will be an emergency exercise - known as a "Black Swan" - before he takes office
  • Prioritise key issues for his first 100 days in power, such as building the Mexican border wall
  • It could also include repealing Obamacare and economic measures such as cutting taxes and raising tariffs on imported goods

Trump and Obama discuss policy in first-ever meeting

President-elect Donald Trump discussed foreign and domestic policy in a meeting at the White House, Barack Obama said.

Following the meeting in the Oval Office, Mr Trump said he had discussed "a lot of situations, including some difficulties" with the serving President - and said he looked forward to more meetings together.

Mr Obama said they talked about foreign and domestic policy, adding:

My number one priority in the coming two months is trying to facilitate the transition, that ensures the President-elect is successful.

I have been very encouraged by the interest in the President-elect Trump's wanting to work with my team on any of the issues that this great country faces. And I believe that it is important for all of us, regardless of party, and regardless of political preferences, to now come together and work together to deal with the many challenges we face.

– Barack Obama

Mr Trump said it had been the first time the two men had met in person.

"I have great respect - the meeting lasted almost an hour and a half, it could have gone on for a lot longer," he said.

"It really - we discussed a lot of different situations, some wonderful and some difficulties. I very much look forward to dealing with the President in future, including council. He's explained some of the difficulties, some of the high-flying assets, and some of the great things that have been achieved."

May and Trump re-affirm UK-US special relationship

Theresa May congratulated Mr Trump on his election victory Credit: PA

US President-elect Donald Trump invited Theresa May to visit "as soon as possible" as they held their first talks by telephone on Thursday afternoon.

During the call, Mrs May congratulated Mr Trump on his election victory and they also spoke about the "special" UK-US relationship.

A Downing Street spokesman said: "President-elect Trump set out his close and personal connections with, and warmth for, the UK. He said he was confident that the special relationship would go from strength to strength."

Mrs May also expressed her commitment to strengthening bilateral trade and investment with the United States as Britain leaves the European Union, the spokesman added.

The call came ahead of Mr Trump's meeting with Barack Obama at the White House to discuss the handover process.

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