S&P 500 e-minis edge up after Biden pulls out of US presidential race

[July 22, 2024]  NEW YORK (Reuters) - S&P 500 e-mini futures were up slightly late on Sunday after U.S. President Joe Biden ended his reelection bid and endorsed Vice President Kamala Harris to replace him as the Democratic candidate against Republican Donald Trump.  

People look at a news ticker, as news on U.S. President Joe Biden's announcement that he is dropping his reelection bid is displayed, in the Manhattan borough of New York City, U.S., July 21, 2024. REUTERS/Eduardo Munoz

S&P 500 e-minis were last up 0.1%.

Biden, who had been under pressure from fellow Democrats to pull out of the race, said he will remain in his role as president until the end of his term in January 2025.

Stocks rose last Monday as investor expectations of a Trump win increased after a July 13 failed assassination attempt on Trump.

(Reporting by Caroline Valetkevitch in New York; Editing by Chris Reese)

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