News Formal

Stock market news today: Nasdaq leads US futures higher after Biden backs out

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 24 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 37%
  • Publisher: 63%

Joe Biden News

US Stock Futures,Kamala Harris,Nasdaq

Investors are surveying a changed political landscape after Biden called off his re-election bid, assessing what it could mean for the Trump trade.

US stock futures rose on Monday as investors assessed the potential fallout from President Joe Biden's exit from the presidential race. Gains of roughly 0.5% for S&P 500 futures and 0.8% for contracts on the tech-heavy Nasdaq 100 pointed to recovery for the indexes, which ended Friday with their worst weekly losses since April. Dow Jones Industrial Average futures moved up 0.1% in the wake of the index's own sharp fall.

Biden's move, while not unexpected after weeks of pressure, is seen on Wall Street as eroding the odds of Republican contender Donald Trump securing a return to the White House. That could prompt a light unwinding of recent "Trump trade" bets on assets seen as benefiting from a second Trump presidency, such as bitcoin, bank stocks, and higher US bond yields. The yield on the benchmark 10-year Treasury slipped in Monday's early hours.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Stock futures steady as S&P 500, Nasdaq try to build on recordsA consequential week that could provide key signals for the near-term path of interest rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Nasdaq leads gains to kick off new quarter as Tesla pops 6%Political turmoil in France gripped investors weighing whether stocks can build on their stellar first-half performance.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Nvidia rebound fuels Nasdaq rally as Dow falls 300 pointsStocks are hoping to add a punchline to what's been a high-flying quarter thus far.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Nasdaq jumps as Nvidia turns a cornerStocks are hoping to add a punchline to what's been a high-flying quarter thus far.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Nasdaq set for gains as Nvidia turns a cornerStocks are hoping to add a punchline to what's been a high-flying quarter thus far.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »