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The U.S. political landscape underwent a second earthquake in as many weeks as President Biden announced (by Tweet, no less) that he was ending his embattled candidacy for the Democratic nomination for the presidency.
His campaign for the nomination, which was all but totally sewn-up, ended in a bit of a whimper as he shrugged off the rigors of the modern American electoral process. Biden endorsed Vice President Harris (who could be running the government while he’s sick with covid for all anyone knows) to replace him at the top of the 2024 Democratic ticket.
You’d assume the degree of uncertainty surrounding one of the most important offices in the world would ignite turmoil in the market… “What are we going to do? Who’s going to lead?”… but it hasn’t.
This “Atlas” – the President – shrugged, and the markets didn’t do anything. In fact, the S&P 500 just closed out its best day since early June.
What’s the underlying message for the government? That we can do fine without you?
I’ll leave that one to the pundits – today we’re going to look at where the capital went, looking at stocks like ACB, MSOS, SNDL, PSX, WBD, and more…
