Biden drops out, backs Harris for Democratic nomination, markets cautious, tech stock rotation

From Investing.com: 2024-07-22 00:45:57

President Joe Biden dropped out of the race, backing VP Kamala Harris for the Democratic nomination ahead of the official convention. PredictIT odds shifted, favoring Harris over Trump. Goldman Sachs predicts no major policy change with Harris. China’s central bank surprised with a rate cut, impacting borrowing costs and bond yields. Markets remain cautious. Tech stocks faced rotation, affecting the S&P 500 gains. Second-quarter earnings, including Tesla and Google-parent Alphabet, expected to influence market trends. Key developments to watch include speeches and company earnings releases.



Read more at Investing.com: Wall Street in measured mood as Biden bows out By Reuters