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US President Donald Trump will admit his defeat in the presidential race after receiving advice 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 a lead in the battleground state of Pennsylvania and the Decision Desk HQ called Biden as the projected winner. 

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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.