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President-elect Donald Trump endorses House Speaker Mike Johnson for another term,

and how Biden's economic legacy might fare under the Trump administration.

The burden of trying to be realistic about what this country can afford may affect the extent

to which Trump and the Congress can actually deliver on the things that he promised.

Plus, investors have poured a record $1 trillion into U.S. exchange traded funds.

It's Monday, December 30th.

I'm Alex Osala for the Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that move the world today.

Donald Trump has endorsed House Speaker Mike Johnson for another term amid rumblings from some Republicans who say the party should seek a new leader in the House.

Lindsay Wise covers Congress for the Wall Street Journal and joins us now to talk about what this means for Republicans.

Lindsay, what does Trump's endorsement actually mean here?

Well, this is a big deal for Mike Johnson. He's very dependent on Trump's support as speaker.

We know that Trump was a bit annoyed with how Johnson handled the recent spending bill that came

through Congress. Trump had wanted an increase to the nation's borrowing limit

as part of that vote, and it didn't happen. So we know that Trump was a little grumpy about that,

but it appears that he is not really holding that against Johnson right now. It's very interesting

that this is coming now. It wasn't unexpected. However, one of the things that may be in Trump's thinking here, and I know is in the thinking of some members of Congress, is that the House can't swear in any new members or conduct any business, form any committees, pass any legislation until a speaker is elected. And that also includes certification of Trump's electoral college victory. And that is

scheduled under statute for January 6th. So I think it may be also in the minds of many Republicans

on the Hill that if they have a long protracted battle over who is elected speaker, that could

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