Investing.com-- U.S. stock index futures rose in evening deals on Sunday after President Joe Biden abruptly withdrew his bid for reelection and endorsed Vice President Kamala Harris as the Democratic nominee against Republican frontrunner Donald Trump.
The so-called “Trump Trade” was also in play, as investors positioned for more protectionist policies and trade tariffs in the event of a Trump presidency.Biden’s withdrawal comes amid growing calls from members and donors of his party for him to step down, amid concerns over his mental health and that he may not be able to effectively run against Trump.
“Some polls have Harris performing better than Biden against Trump, and the Democrats will be hoping the next polls feature a Harris-driven bump.”