Sanders Suspends Campaign, Stock Market Reacts

Bernie Sanders, #TeamKJ, #kevinjackson, Bernie

Sanders officially suspended his presidential campaign today. Which leads me to believe Biden is all the dems have left.

If Biden ends up on the ballot, then Trump’s landslide will have the craziest margins ever imagined. But back to Bernie. He cited Biden’s lead of more than 300 delegates for the Democrat National Convention as his reason for stepping aside. As Sanders so eloquently put it: “The path toward victory is virtually impossible.”

Fox News elaborates:

He continued: “I have concluded that this battle for the Democratic nomination will not be successful. … I do not make this decision lightly.”

He still claimed a symbolic victory in saying “our movement has won the ideological struggle” — discussing how core ideas like a $15 minimum wage, health care for all and more have been more widely embraced in the party.

In a curious moment, though, Sanders said that Biden “will be the nominee,” yet went on to stress the importance of continuing to win delegates for his own campaign so he’ll be able to exert “influence” on the party platform.

Calling it a “difficult and painful decision,” Sanders stressed that “while this campaign is coming to an end, our movement is not.”

More than any other Democratic campaign, Sanders’ candidacy indeed represented a movement — a populist, liberal, grassroots army of young people and others drawn to his democratic socialist beliefs, which he brought from the fringes to the mainstream of the party.

Since when do we celebrate socialism? Or praise the “leaders” trying to implement it?

Biden’s Bromance

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I guess the break-up with his former bestie Barack leaves plenty of room for Biden to layer oodles of praise on a new frenemy. Of course, Biden hasn’t always had such kind words for Bernie. But for the sake of a farewell, Biden dug deep.

Biden, now the presumptive nominee, said in a statement that Sanders and his supporters “changed the dialogue.”

He said: “But more than any one issue or set of issues, I want to commend Bernie for being a powerful voice for a fairer and more just America. It’s voices like Bernie’s that refuse to allow us to just accept what is — that refuse to accept we can’t change what’s wrong in our nation — that refuse to accept the health and well-being of our fellow citizens and our planet isn’t our responsibility too. Bernie gets a lot of credit for his passionate advocacy for the issues he cares about. But he doesn’t get enough credit for being a voice that forces us all to take a hard look in the mirror and ask if we’ve done enough.”

On Twitter, Biden praised Sanders for creating a movement.

But as the saying goes, money talks. Thus, the dollars are sending Biden a very clear message.

Stocks Soar

Shortly after Sanders suspended his campaign, the markets reacted.

Fox News explains:

U.S. equity markets rallied to session highs Wednesday after Sen. Bernie Sanders announced he was suspending his presidential campaign.

The Dow Jones Industrial Average gained 593 points, or 2.62 percent, ahead of the noon hour while the S&P 500 and Nasdaq Composite rose 2.4 percent and 2.04 percent, respectively. The gains have lifted the S&P 500 out of its bear market, which would officially end with the index closing above 2,684.88.

Ticker Security Last Change Change %
SP500 S&P 500 2713.25 +53.84 +2.02%
I:DJI DOW JONES AVERAGES 23157.95 +504.09 +2.23%
I:COMP NASDAQ COMPOSITE INDEX 8017.80403 +130.54 +1.66%

 

In other words, the reassurance that Bernie will never sit in the oval office boosted the economy, despite the pandemic currently devastating markets. What’s that old saying? The proof is in the pudding— well, here we have the pudding folks. Bernie’s officially out.