President Biden announces he is dropping his re-election bid and endorses Vice President Kamala Harris as the Democratic candidate.
Here is where we stand on Predictit.
BREAKING >>> BIDEN IS DROPPING OUT OF PRESIDENTIAL RACE
US President Joe Biden has abandoned his re-election bid following overwhelming pressure from fellow Democrats, saying that “it was in the best interest of my party and the country for me to stand down”. The president announced his decision in a letter published to social media on Sunday, throwing this year’s White House race into turmoil with less than four months to go until voters in the world’s biggest economy elect their new leader on November 5. Biden’s announcement follows more than three weeks of wrenching debate among Democrats about his candidacy after a disastrous debate performance against Trump reignited concerns about his mental acuity and damaged his standing among American voters. An Associated Press poll out last week found nearly two-thirds of Democratic voters said Biden should drop out of the race. Source: FT
Public speaking secrets of Steve Job
Source: Scholarship for PhD
The semi-conductor foundry landscape
Source: Statista
Investing lesson from Peter Lynch
Source: @MnkeDaniel on X
Since its inception in 1999, the Euro has lost 40% of its purchasing power.
To put this into perspective: 1 Euro today can only purchase about 60% of what it could back in 1999. Source: Relai 🇨🇭
The most interesting question going into next week is whether the US economy is picking up.
Did it start with the release of the June data? Is this going to frustrate a September rate cut? The Bloomberg Surprise Index (see chart below) bottomed on July 5, the nonfarm payroll release date. Since then, it has been trending higher. The move higher over the last five days (one business week) has been the biggest since September 2021 (bottom panel). Source: Jim Bianco, Bianco Research
That was the highest weekly close in over 30 months for both Small-cap Growth and Small-cap Value
Source: J-C Parets
