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☆ Bristol Myers Squibb beats earnings estimates, raises outlook as drugmaker slashes costs
▼ + stars: | 2024-07-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

The Bristol Myers Squibb research and development center at Cambridge Crossing in Cambridge, Massachusetts, on Dec. 27, 2023. Bristol Myers Squibb on Friday reported second-quarter earnings and revenue that topped expectations and raised its full-year guidance as the drugmaker moves to slash costs. The results come as Bristol Myers moves to cut $1.5 billion in costs by 2025 and reinvest that money into key drug brands and research and development programs. Bristol Myers posted net income of $1.68 billion, or 83 cents per share, for the second quarter. Revenue from Bristol Myers' blood cancer drug Revlimid also topped analysts' estimates for the period despite facing competition from cheaper generics.

Persons: Bristol Myers, Revlimid, Joe Biden's Organizations: Bristol Myers Squibb, LSEG, Revenue Locations: Cambridge, Cambridge , Massachusetts, Bristol, Revlimid

☆ Obama endorses Kamala Harris as she builds momentum against Donald Trump
▼ + stars: | 2024-07-26 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +1 min

WASHINGTON — Former President Barack Obama and Michelle Obama endorsed Vice President Kamala Harris for president, in a short video released Friday by the Harris campaign. The 55-second clip shows the vice president walking backstage at an event, heading toward her motorcade and answering the phone call on speaker. Oh, it's good to hear you both," Harris says warmly. "I can't have this phone call without saying to my girl Kamala: I am proud of you," Michelle Obama says. Harris thanks them for their friendship and adds, "We're going to have some fun with this."

Persons: WASHINGTON —, Barack Obama, Michelle Obama, Kamala Harris, Harris, Kamala, Michelle, Joe Biden's Organizations: WASHINGTON, Democratic

☆ Warner Bros. Discovery is counting on deregulation to unlock media deals — if there's even appetite
▼ + stars: | 2024-07-26 | by ( Alex Sherman | ) www.cnbc.com time to read: +10 min

If you ask Zaslav, though, the reason Roberts and other potential buyers of media assets aren't interested is because the government has scared them away. Or, perhaps, legacy media companies are simply undesirable assets to own. He extended the life of his previous company, Discovery Communications — and probably his own tenure running a media company — by merging it with AT&T's WarnerMedia in 2022. Without a deal, Discovery would have wallowed as a subscale content provider and owner of declining cable networks. Discovery with another legacy media company, such as Paramount Global , Fox or Disney , or NBCUniversal, if it were spun off from Comcast.

Persons: David Zaslav, David Grogan, Brian Roberts, " Roberts, Comcast's, Roberts, Zaslav, Shari Redstone, Rob Kindler, Paul, Weiss, they've, Kindler, haven't, Morgan Stanley's, Donald Trump's, There's, Joe Biden's, Simon, Simon & Schuster, JD Vance, Lina Khan's, Lina Khan, Biden, Vance, Kamala Harris Organizations: Allen & Company Sun Valley Conference, CNBC Comcast, Warner Bros, Discovery, Allen & Co, Sun, Paramount, Skydance Media, CNBC Redstone, Starz, AMC Networks, Vice Media, Discovery Communications, NBA, Apple, Paramount Global, Fox, Disney, Comcast, CNBC, Google, Scripps Networks Interactive, Time Warner, Scripps, Viacom, CBS, Sky, AMC, IFC, Sundance, Lionsgate, Media, Republican, Democratic, Donald Trump's Department of Justice, Simon &, Random, MGM, Federal Trade, & $ Locations: Sun Valley , Idaho, RemedyFest

☆ Kamala Harris has a golden opportunity to pull Silicon Valley away from Trump and Vance
▼ + stars: | 2024-07-26 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

The US President endorsed his current vice president, and many prominent Democrats, including Barack Obama, have followed his lead. Money has been pouring into Harris's campaign, and the vice president has already begun campaigning against former president Donald Trump. With Vance by his side, Trump has been trying to woo Silicon Valley away from Biden. Notably, the vice president hasn't taken a strong stance on cryptocurrency, but some expect her to become more pro-crypto than Biden. Meanwhile, with support from pro-crypto running mate JD Vance, Trump has announced he plans to be the first "crypto president."

Persons: —, Kamala Harris, Harris, Joe Biden's, Barack Obama, Donald Trump, Sheryl Sandberg, Trump, JD Vance, David Sacks, Peter Thiel, Vance, Thiel, Elon Musk, Aaron Levie, techies, Sean Parker, Tony West, Kamala, she's, Ron Conway, Chiente Hsu, Biden, She's, Hsu, Reed Hastings, Levie, hasn't, Nigel Green Organizations: Service, Democratic, Business, PAC, Politico, VC, Biden, Facebook, Big Tech, Biden Administration, Democratic Party, deVere Group Locations: Silicon, California, Oakland, Bay, Harris, FTX

☆ Kamala Harris debuts official TikTok account as presidential campaign picks up
▼ + stars: | 2024-07-25 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

U.S. Vice President Kamala Harris delivers the keynote speech at the American Federation of Teachers' 88th national convention in Houston, Texas, U.S. July 25, 2024. Vice President Kamala Harris debuted an official TikTok account on Thursday, underscoring the social broadcasting app's importance to the 2024 presidential campaign as a way to reach voters. The vice president was referring to the widespread attention her recently announced presidential campaign garnered on social media platforms like TikTok. Meanwhile, former President Donald Trump debuted an official TikTok account in June. Watch: "There is no rebranding Kamala Harris," former Trump aide.

Persons: Kamala Harris, Harris, I've, I'd, Charli, Joe Biden's, Joe Biden, Donald Trump, Trump Organizations: American Federation of Teachers, Democratic, CNBC, Facebook Locations: Houston , Texas, U.S, America

☆ Wes Moore praises Kamala Harris for moving the race beyond the age issues that dogged Biden, puts to rest 'flattering' vice presidential rumors
▼ + stars: | 2024-07-25 | by ( John L. Dorman | ) www.businessinsider.com time to read: +1 min

Wes Moore of Maryland is supporting Vice President Kamala Harris' presidential campaign. The longtime Biden ally told BI that Harris has brought a "real sense of energy" to the 2024 race. AdvertisementAfter President Joe Biden's decision to step aside as the Democratic presidential nominee, the stunning move upended the 2024 race. Wes Moore of Maryland, a strong ally of Biden who had lined up behind the president's reelection bid, a trusted political partner will no longer be on the ballot in November. This story is available exclusively to Business Insider subscribers.

Persons: Wes Moore, Kamala Harris, Biden, Harris, Moore, —, Joe Biden's Organizations: Service, Democratic, Business Locations: Maryland

☆ A millennial dad's $0 student-loan payments gave his family some breathing room. Then courts blocked Biden's repayment plan leaving 8 million borrowers like him in limbo.
▼ + stars: | 2024-07-25 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Throughout his repayment, Pedrick has been on an income-driven repayment plan, which calculated his payments based on his five-figure salary. "And I was really thankful not to have to pay my student loan payments at that point." Earlier this year, two separate groups of attorneys general filed lawsuits to block the SAVE plan. The department is still carrying out account adjustments, during which it brings borrowers' payments up to date to bring them closer to relief. Are you concerned about the future of your student-loan payments?

Persons: Alan Pedrick, he's, Pedrick, Joe, He's, Biden, — Pedrick, Bill Cassidy, Biden's, Cassidy, Miguel Cardona, Cardona, it's, I'm Organizations: Service, Business, GOP, SAVE, forbearance, Education Department, Senate, Republican

Vice President Kamala Harris and former President Barack Obama attend an event to mark the 2010 passage of the Affordable Care Act in the East Room of the White House on April 5, 2022 in Washington, DC. Obama privately has fully supported Harris' candidacy and plans to endorse her soon, these people said. Obama is one of the only high-profile Democrats in the country who has yet to endorse Harris. Michelle Obama also supports Harris' candidacy, two people familiar with the matter said. "President Obama looks forward to helping Democrats up and down the ballot make the case to voters this fall," said Eric Schultz, a senior adviser to Obama.

Persons: Kamala Harris, Barack Obama, Obama, Harris, she's, Joe Biden's, Michelle Obama, Eric Schultz Organizations: Affordable, White, Washington , DC Locations: Washington ,

☆ Democrats are focused on avoiding Project 2025 in a 2nd Trump term. But they're also spending millions to take their fight against 'extreme' GOP policies to the states.
▼ + stars: | 2024-07-24 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. "Unchecked MAGA-control of state legislatures across the country would be catastrophic for our democracy as well as our fundamental freedoms and rights," DLCC president Heather Williams said in a statement. The second-largest infusion of money ($500,000) will go towards efforts to hold the Pennsylvania House of Representatives, which Democrats also flipped in the 2022 cycle. And the organization will also fund efforts to retain the Minnesota House of Representatives and make gains in the Wisconsin Assembly. Advertisement"Investing in Democratic efforts to build power in state legislatures is a critical way to defend our future," she said.

Persons: —, Kamala Harris, Donald Trump, MAGA, Heather Williams, Gretchen Whitmer, Harris, Joe Biden's, Anastasia Apa Organizations: Service, Heritage Foundation, Democratic, Business, Democratic Legislative, GOP, Michigan, Representatives, Michigan Senate, New, New Hampshire Senate, Minnesota, Trump Locations: Michigan , Minnesota , New Hampshire , North Carolina , Pennsylvania, Wisconsin, Michigan, New Hampshire, North Carolina

☆ The elephant not in the room for Netanyahu's speech: Kamala Harris
▼ + stars: | 2024-07-24 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +7 min

That is a strategic political calculation, because she knew — and her people knew — that you will not reach the White House if you frolic with war criminals." Kent Nishimura/Getty ImagesThe California Democrat argued that Harris should look toward the example of Vice President Hubert Humphrey. Advertisement'A very tenuous feeling'If Netanyahu's speech on Wednesday was any indication, there's plenty of wiggle room for Harris to pursue a less deferential approach to Israel than Biden. Dozens of progressives issued statements affirming that they were boycotting the speech, engaged in other events, or like Harris, simply came up with convenient scheduling conflicts. He's literally the Trump of Israel," Rep. Maxwell Frost of Florida told me.

Persons: Linda Sarsour, Joe Biden's, They'll, Joe Biden, Benjamin Netanyahu, Kamala Harris, Sarsour, That's, —, Biden, Israel —, Harris, Ro Khanna, Sen, Ben Cardin, Kent Nishimura, Hubert Humphrey, Lyndon B, Johnson, Humphrey, Khanna, Netanyahu, He's, Barack Obama's, Trump, Rep, Maxwell Frost of, Becca Balint of, Balint, Rashida Tlaib, Nancy Pelosi, Rashida, Anna Moneymaker, she's, Israel, Summer Lee of Organizations: Service, Democratic, Business, New York, Black Zeta Phi Beta, California Democrat, Democrats, Becca Balint of Vermont, Democrat, Republican, KFC, Palestinian, White Locations: Palestinian, Indianapolis, Israel, Gaza, United States, Ben Cardin of Maryland, California, Vietnam, —, Iran, Maxwell Frost of Florida, Palestinian American, Michigan, Summer Lee of Pennsylvania

☆ Elon Musk says a Trump presidency would be good for Tesla, but 'devastating' for its rivals
▼ + stars: | 2024-07-24 | by ( Tom Carter | ) www.businessinsider.com time to read: +1 min

Elon Musk was asked what would happen if Trump won the election and withdrew government support for EVs. He said it would be "devastating" for Tesla's rivals but would probably help Tesla "long term." Musk has been an outspoken supporter of Trump in recent weeks, despite his earlier criticism of EVs. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk thinks a Trump presidency could be good for Tesla, but "devastating" for its rivals.

Persons: Elon Musk, Trump, Tesla, —, Elon, Musk, Joe Biden's Organizations: EVs, Trump, Service

☆ Joe Biden's exit could be a tricky subject for authoritarian leaders in Russia, China, and Saudi Arabia, analysts say
▼ + stars: | 2024-07-24 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +1 min

Joe Biden exited the presidential race, endorsing Kamala Harris as his successor. Analysts say leaders like Vladimir Putin and Xi Jinping could interpret it as a sign of US decline. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIn a dramatic but increasingly expected turn of events, Joe Biden exited the presidential race on Sunday via a letter posted on social media. He endorsed Vice President Kamala Harris, who has no serious rivals to succeed him as the nominee.

Persons: Joe Biden, Kamala Harris, Vladimir Putin, Xi Jinping, Biden, — Organizations: Service, Democratic, Convention, Business

☆ Gen X is in charge now and boomers are being shown the door
▼ + stars: | 2024-07-24 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

Harris is 59 and was born October 20, 1964 — putting her just weeks outside the Gen X range which is generally thought to span 1965 to the early 1980s. His successor has not been confirmed, but one name being floated is his Gen X lieutenant Stephanie Pope. Could the House of Mouse soon have its first Gen X leader? The picture is not completely clear on how Gen X bosses differ from their predecessors on issues such as remote work and the role of AI in the workplace. AdvertisementIt won't be long, though, until Gen X has a majority grip over power.

Persons: —, Gen, Joe Biden's, Kamala Harris, Harris, Xer —, XCX, Joe Biden, Justin Sullivan, boomer Barack Obama, Donald Trump, Sen, JD Vance, Bush, Clinton, Biden, Obama, John McCain, Mitt Romney, HSBC's, Noel Quinn, Georges Elhedery, Xer, David Calhoun, Stephanie Pope, Dave Calhoun, Aaron Schwartz, Gen X, Ron Vachris, Craig Jelinek, Macy's, Tony Spring, Xers, Jamie Dimon, David Solomon, Goldman Sachs, Bob Iger, boomer Bob Chapek, Iger, Brendan McDermid, Tim Cook, Steve Jobs, Jensen Huang, Dimon, Jenn Piepszak, Troy Rohrbaugh, X'ers, JPMorgan Chase, Alex Brandon, Mouse, We'll Organizations: Service, Democratic Party, Business, Democratic, Trump, Boeing, Gen, Gen X Costco, Microsoft, Google, Walmart, Tesla, ExxonMobil, JPMorgan, Blackstone, septuagenarians, Disney, Apple Locations: BlackRock, Silicon Valley, America

☆ Fox News invites Harris and Trump to debate in September
▼ + stars: | 2024-07-24 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

U.S. Vice President Kamala Harris and Republican presidential nominee and former U.S. President Donald Trump. Fox News has invited Vice President Kamala Harris and former President Donald Trump to debate each other in Pennsylvania on Sept. 17, according to copies of the letters obtained by CNBC. The invitation comes a day after Trump said he would be willing to debate Harris, the newly minted de facto Democratic nominee, multiple times on a call with reporters. The Harris and Trump campaigns did not immediately respond to CNBC's request for comment on whether they would accept the invite. The debate would serve as a redemption opportunity for Democrats, following President Joe Biden's disastrous debate performance in June.

Persons: Kamala Harris, Donald Trump, Trump, Harris, Bret Baier, Martha MacCallum, Joe Biden's Organizations: Republican, Fox News, CNBC, Democratic, Trump Locations: Pennsylvania

☆ Kamala Harris has entered the U.S. presidential election. What that could mean for crypto
▼ + stars: | 2024-07-24 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

The outcome of the U.S. presidential election and its implications for the crypto industry got more uncertain this week after Vice President Kamala Harris entered the race following President Joe Biden's exit. Many are now wondering what a Harris administration could mean for crypto – especially following years of an anti-crypto crusade led by Biden-appointed SEC Chair Gary Gensler and Sen. Elizabeth Warren, D-Mass. On Tuesday, a day after Harris launched her campaign, billionaire Mark Cuban said her advisors had begun reaching out to him about crypto policy . Bitcoin, the largest cryptocurrency, had recently seen a boost as Trump incorporated crypto into his platform. The crypto industry sees itself as nonpartisan, and in recent weeks has bipartisan support for crypto in Congress has been growing.

Persons: Kamala Harris, Joe Biden's, Donald Trump, —, Harris, Biden, Gary Gensler, Sen, Elizabeth Warren, Harris doesn't, they've, …, Kristin Smith, Devin Ryan, Mark Cuban, Trump, JMP's Ryan, that's, Ryan, Smith, Nancy Pelosi, Adam Schiff, it's Organizations: U.S, Republican, SEC, Democratic, Democratic Party, Blockchain Association, JMP Securities, Trump, BTC, SAB, Innovation, Technology, Futures Trading Commission Locations: Nashville, bitcoin, California

☆ Tesla reports earnings after the bell. Here's what Wall Street has to say
▼ + stars: | 2024-07-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Analysts expect Tesla to post 62 cents in earnings per share on $24.77 billion in revenue. Although the revenue estimate is slightly higher than the $21.30 billion Tesla posted in the first quarter, the earnings forecast is 30% below the previous year. Last quarter, Tesla reported adjusted earnings of 45 cents per share on a 9% decline in revenue to $21.30 billion compared with the fourth quarter. Evercore's Chris McNally also sees further downside to Tesla shares. Jonas holds a $310 price target on Tesla shares, indicating 23% potential upside from Monday's close.

Persons: Tesla, Elon Musk, Ronald Jewsikow, Jewsikow, Dan Levy, Levy, Chris McNally, McNally, Wells, Colin Langan, Langan, Joe Biden's, Morgan Stanley's Adam Jonas, Jonas, — CNBC's Michael Bloom Organizations: Barclays, Tesla, U.S, Trump Locations: Monday's, Wells Fargo

☆ Saudi Arabia's crown prince is probably not psyched that liberal ex-prosecutor Kamala Harris may be president: expert
▼ + stars: | 2024-07-23 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +1 min

Kamala Harris is the presumptive Democratic nominee after President Joe Biden exited the race. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Among them — Saudi Crown Prince Mohammed bin Salman, who one expert said would likely be wary of his presumed successor Kamala Harris. "A liberal presidential candidate like Kamala Harris, close to human rights activists will also be worrisome," said Mathew Burrows, a senior member of the research team at the Stimson Center think tank. This story is available exclusively to Business Insider subscribers.

Persons: Kamala Harris, Joe Biden, Harris, —, Joe Biden's, Prince Mohammed bin Salman, Mathew Burrows Organizations: Democratic, Service, Saudi, Stimson, Business Locations: Saudi Arabia

☆ CNBC Daily Open: Wall Street looks past political uncertainty
▼ + stars: | 2024-07-23 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Tech reboundThe S&P 500 posted its biggest gain since June 5, recovering from its worst weekly slide since April, as tech stocks rebounded led by Nvidia. The move allows Warner Bros. to retain some of its NBA broadcasting rights. However, the NBA may not want Warner Bros. as a media rights partner and could reject the company's matching rights, which could lead to a legal tussle.

Persons: Russell, CrowdStrike, George Kurtz, Mark Green, Andrew Garbarino, Berkshire Hathaway, Walter Cho, Joe Biden's, Kamala Harris Organizations: CNBC, Tech, Nvidia, Nasdaq, Dow Jones Industrial, Homeland Security, Microsoft, Delta Air Lines, Buffett, Warren, Bank of America, Apple, Boeing, Korean Air, Farnborough, NBA, Warner Bros, Discovery, National Basketball Association, Amazon Prime, Trump Locations: U.S, Berkshire

☆ Aussie, kiwi dollars struggle on China's rate cuts; dollar adrift
▼ + stars: | 2024-07-23 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Australian dollars are seen in an illustration photo February 8, 2018. The two Antipodean currencies, often used as liquid proxies for the Chinese yuan, were flat after slumping in the previous session in the wake of the news. The Australian dollar was trading at $0.6643 early on Tuesday and the New Zealand dollar dipped 0.01% to $0.5979. In the broader market, currency moves were subdued as traders looked to central bank meetings in the U.S. and Japan next week. In cryptocurrencies, bitcoin fell 0.7% to $67,665, retreating from an over one-month top hit in the previous session.

Persons: Daniel Munoz, China's, Rodrigo Catril, Joe Biden's, NAB's, bitcoin, Rae Wee, Stephen Coates Organizations: REUTERS, New, New Zealand, National Australia Bank, NAB, Trump, U.S, Treasury, Thomson Locations: SINGAPORE, New Zealand, China, U.S, Japan

☆ Trump may regret choosing JD Vance as his running mate, political scientists say
▼ + stars: | 2024-07-23 | by ( Joshua Nelken-Zitser | Taylor Berman | ) www.businessinsider.com time to read: +5 min

This story is available exclusively to Business Insider subscribers. Thomas Gift, director of UCL's Centre on US Politics, told BI that Trump's selection of Vance was "a confident — some might say too confident" decision. AdvertisementShe noted that with Biden leading the Democratic ticket, Trump and Vance could effectively criticize Biden's age and competency. While Vance's first solo campaign rally in Virginia on Monday wasn't as disastrous or widely watched as Biden's debate performance, Fahey told Business Insider it still revealed a potential weakness. Beyond his loyalty to Trump, Fahey said, "Vance adds nothing to the Republican ticket."

Persons: —, Tim Alberta, Donald Trump, there's, Sen, JD Vance, Kamala Harris, JD Vance —, MskTPjvVSS — Tim Alberta, Joe Biden's, Trump's, Biden, MAGA, Thomas Gift, Vance, Wilson, Harris, Trump, Colin Talbot, Doug Emhoff, 3DJY3pQTGe, Ron Filipkowski, Talbot, Kevin Fahey, Trump world's, Vance's, Fahey, Palin'd, bHBs0pNRZH — Brandon Friedman, Vance doesn't Organizations: Service, Democratic, Business, Trump, University of Manchester, University of Nottingham, Republican Locations: Atlantic, America, Virginia, Ohio

☆ Kamala Harris and Doug Emhoff could become a history-making president and first gentleman. Here's a timeline of their relationship.
▼ + stars: | 2024-07-23 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

Kamala Harris and Doug Emhoff met on a blind date and married on August 22, 2014. Emhoff said meeting Harris was "love at first sight," and she's called Emhoff "the love of my life." Harris is running for president following Joe Biden's exit from the 2024 race. AdvertisementVice President Kamala Harris and second gentleman Doug Emhoff could become the next president and first gentleman of the United States. When President Joe Biden announced his exit from the 2024 race on Sunday, he also endorsed Harris to replace him as the Democratic nominee.

Persons: Kamala Harris, Doug Emhoff, Emhoff, Harris, Joe Biden's, —, Joe Biden Organizations: Service, Democratic, Democratic National Convention, Business Locations: United States

☆ How Biden's unpopular economic record could be a challenge for Kamala Harris
▼ + stars: | 2024-07-22 | by ( Jeff Cox | ) www.cnbc.com time to read: +7 min

As the frontrunner for the Democratic party's nomination, Kamala Harris will have to run, for better or worse, on President Joe Biden's economic record. It will be just one challenge Harris will have to overcome to defeat her Republican opponent, former President Donald Trump . Despite historically low unemployment and macro growth that has defied long-held expectations for recession, the economy is Biden's soft spot. "I don't see a lot of daylight between her views on economic policy and those of the administration," said Mark Zandi, chief economist at Moody's Analytics , a Democrat who has advised administrations of both parties. Possible change at the Fed One area of difference between Biden and Harris could be a crucial one — the Federal Reserve.

Persons: Kamala Harris, Joe Biden's, Biden, Harris, Donald Trump, She's, Greg Valliere, she's, There's, Mark Zandi, Zandi, nonfarm, Joseph LaVorgna, Biden's, Trump, Jerome Powell, Powell, reappoint Powell Organizations: Democratic, Biden, Republican, AGF Investments, Reuters, Moody's, Democrat, Economic Council, Nikko Securities, Federal Reserve, Senate, Beacon, Advisors Locations: California

☆ Dollar eases as Biden ends reelection bid; yuan steady after rate cut
▼ + stars: | 2024-07-22 | by ( ) www.cnbc.com time to read: +1 min

The dollar eased on Monday in the initial reaction to U.S. President Joe Biden's decision to end his reelection campaign, clearing the way for another Democrat to challenge Donald Trump. The dollar eased on Monday in the initial reaction to U.S. President Joe Biden's decision to end his reelection campaign, clearing the way for another Democrat to challenge Donald Trump. China's yuan was largely unfazed by the central bank's decision to cut a key interest rate. Biden announced he was exiting the race on Sunday, and endorsed Vice President Kamala Harris to replace him as the Democratic candidate in the November election. Former President Trump, the Republican nominee, sits well ahead in betting markets following Biden's disatrous debate performance last month and a surge in questions about his mental competence.

Persons: Joe Biden's, Donald Trump, Biden, Kamala Harris, Trump, Joseph Capurso, Capurso, Harris Organizations: Democratic, Republican, Commonwealth Bank of Australia, Trump, British, People's Bank of China Locations: U.S

☆ Some Biden allies are publicly upset and furious after he was pushed out of the race
▼ + stars: | 2024-07-22 | by ( Tom Porter | ) www.businessinsider.com time to read: +1 min

Some of Joe Biden's allies aren't pleased he quit the race. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWhen President Joe Biden announced Sunday that he was dropping out of the 2024 election, most top Democrats projected unity. But some longtime allies of the president weren't on script, sounding angry and betrayed. This story is available exclusively to Business Insider subscribers.

Persons: Joe Biden's, aren't, Kamala Harris, Critics, Biden, —, Joe Biden, weren't, Trump, Ron Klain Organizations: Democratic, Service, Business

☆ Biden dropping out adds more uncertainty to markets. What investors are saying
▼ + stars: | 2024-07-22 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

"We will continue to have both bulls and bears because you have both sides who are talking about the uncertainty, increased uncertainty regarding the presidency," Stovall added. A 'Red Wave'? "It seems as if the greatest likelihood is a red wave," Stovall said. Trump trade hurt? To be sure, Sunday's announcement could pump the brakes on the so-called Trump trade seen since the late-June debate.

Persons: Joe Biden's, Biden, Kamala Harris, Sam Stovall, Trump, Stovall, it's, —, PredictIt, Harris, CFRA's Stovall, Wells, Stephen Baxter, Baxter, Oppenheimer, Hogan, Riley, It's, Kim Forrest, Forrest, Fred Imbert Organizations: Trump, CFRA, Democratic National Convention, Republican, Democratic, Medicaid, Med Adv, Bokeh Capital Partners Locations: Friday's

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