After a series of unfortunate events in the US in the last month, President Biden has decided to withdraw his name from the Democratic ticket for the 2024 elections. In light of Biden’s failed “mental acuity” and growing pressures from the Democratic fraction to step down following the June presidential debate, the 81-year-old president has revoked his reelection campaign. Soon after Biden’s announcement, analysts predicted stock futures to climb and Trump trades to dictate the opening market on Monday.
The looming uncertainty in the market places immediate pressure on the Democrats, who must nominate a new candidate. As Biden bowed out of the election, he nominated his vice president, Kamala Harris, to carry the torch and represent Democrats in the November elections. ActBlue, the Democratic-linked fundraising platform, revealed that by “of 9 p.m. ET, grassroots supporters had raised $46.7 million through ActBlue following Vice President Kamala Harris’ campaign launch” in a post on X. The New York Times highlighted Sunday as the single biggest day for Democratic contributions in the 2024 elections. Additionally, ActBlue has commemorated the $14 billion in donations since its inception in 2004.
UPDATE: As of 9pm ET, grassroots supporters have raised $46.7 million through ActBlue following Vice President Kamala Harris’ campaign launch. This has been the biggest fundraising day of the 2024 cycle. Small-dollar donors are fired up and ready to take on this election 🔥
— ActBlue (@actblue) July 22, 2024
As futures experience a steady rise, no material alterations are have occured to taxation and deregulations, key pillars of the Trump narrative during his campaign. Analysts still maintain a cautious outlook on forecasting market changes in light of Sunday’s developments as “a lot more campaigning needs to be done.” In gaining Biden’s nomination as the Democratic candidate, Harris must work swiftly in the coming days to secure sufficient Democratic votes to secure her ticket in presidential race, pick a running mate and transform the Democratic narrative to echo “Harris for President.”
