US election: Trump will reportedly admit defeat after talking to advisers – Fox

Eren Sengezer FXStreet

US President Donald Trump will admit his defeat in the presidential race after receiving input from his advisers, Fox News reported on Friday, citing sources familiar with the matter.

Earlier in the hour, the latest data from Edison Research showed that former Vice President Joe Biden has taken the lead in the battleground state of Pennsylvania and the Decision Desk HQ called Biden as the projected winner.

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Update: Trump campaign responded to this report with the following statement:

"This election is not over. The false projection of Joe Biden as the winner is based on results in four states that are far from final. Georgia is headed for a recount, where we are confident we will find ballots improperly harvested, and where President Trump will ultimately prevail."

"The President is on course to win Arizona outright, despite the irresponsible and erroneous 'calling' of the state for Biden by Fox News and the Associated Press. Biden is relying on these states for his phony claim on the White House, but once the election is final, President Trump will be re-elected."

Market reaction

US stock futures continued to push higher on this headline. As of writing, the S&P 500 futures were up 0.1% on the day.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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