Trump live updates: Markets and world leaders react to America's new president-elect

Trump's decisive presidential victory indicates that Black voters no longer vote in a block," said Jeh Johnson, former Homeland Security Secretary in the Obama Administration.

"We have come to believe over generations that different demographic groups vote as a block because for so often, for so long, the black vote in this country voted in a block," Johnson said on MSNBC. "90% for Democrats from Johnson all the way to Obama and that is just not true anymore."

The comments come after Trump managed to break barriers across a wide range of demographics in his victory over Harris, winning over Black and Latino voters that once would have voted blue.

"As different demographic groups become further integrated into our society they start caring about all of the other issues that everyone else does, whether it's the economy, crime, whether its border security," said Johnson.

-- Gabrielle Fonrouge

Stock futures soared as traders cheered Donald Trump's victory over Vice President Kamala Harris.

Dow Jones Industrial Average futures were up 1,335 points, or 3.2%. S&P 500 futures surged 2.3%, while Nasdaq-100 futures advanced 1.7%.

— Fred Imbert

Trump senior advisor Jason Miller says the incoming president "has completely remade the Republican Party to be the party of the working class" following his decisive victory.

"This isn't the Republican Party of old. President Trump has completely remade the Republican Party to be the party of the working class," Miller said in an interview with NBC's Savannah Guthrie. "You think about the teamsters, the union workers, the folks who want to keep the auto industry, but you think about black voters, Latino voters, think about the Arab American voters in Michigan who rallied around President Trump, his win is already starting to show how he can bring that together."

--Gabrielle Fonrouge

Republican nominee Tim Sheehy defeated incumbent Democratic Sen. Jon Tester in the race for Montana's Senate seat, NBC News projects.

Sheehy, a businessman and former Navy SEAL, focused his campaign on the economy, border security and gun rights. Tester, a farmer who's had three terms in the Senate, faced a tough road to victory ahead of the race.

-- Gabrielle Fonrouge

Oil prices retreated on Wednesday, after Donald Trump defeated Kamala Harris to clinch leadership of the White House.

The Ice Brent contract with January delivery was trading at $74.52 per barrel at 12:10 p.m. London time, down 1.34%. The front-month December contract lost 1.38% to $71 per barrel.

Donald Trump's election could impact the supply of the world's largest crude producer, as the Republican politician has previously endorsed policies pledging to fully unleash America's oil and gas production. The additional supply would exacerbate a picture of already weak demand.

— Ruxandra Iordache

German Chancellor Olaf Scholz extended his congratulations to Donald Trump, after the former U.S. president claimed victory in the latest election to clinch leadership of the White House.

"For a long time, Germany and the US have been working together successfully promoting prosperity and freedom on both sides of the Atlantic. We will continue to do so for the wellbeing of our citizens," Scholz said on social media platform X.

Europe's largest economy counted the U.S. as its largest trading partner in the first half of this year, according to Reuters. The two countries are also close allies in the NATO military coalition.

— Ruxandra Iordache

Kremlin leader Vladimir Putin has so far kept silent on the latest result of the U.S. election.

"I am not aware of the president's plans to congratulate Trump on his election," Kremlin Press Secretary Dmitry Peskov told reporters Wednesday, according to Google-translated comments from state news agency Tass.

"Let's not forget that we are talking about an unfriendly country that is directly and indirectly involved in a war against our state," he added.

Russian President Vladimir Putin and Trump appeared to enjoy cordial relations during the latter's U.S. 2017-2021 presidency. The relationship was mired in controversy after allegations of collusion between Trump's then presidential campaign team and Russia, which was accused of meddling in the 2016 election.

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— Holly Ellyatt

Israeli Prime Minister Benjamin Netanyahu offered his congratulations to both Donald and Melania Trump.

"Congratulations on history's greatest comeback! Your historic return to the White House offers a new beginning for America and a powerful recommitment to the great alliance between Israel and America," Netanyahu said.

"This is a huge victory!" he added.

Israel is a close U.S. ally in the Middle East and has benefitted from military aid from Washington during its conflict with Palestinian militant group Hamas and other Iranian proxies, including neighbor Lebanon's Hezbollah.

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— Sam Meredith and Ruxandra Iordache