- Dow Futures are rallying as Bernie Sanders hopes of appearing on a Presidential ballot are collapsing.
- Joe Biden had an incredible “Super Tuesday” performing strongly across the board.
- Sanders had been viewed as a major risk to the Dow Jones should he be the Democratic nominee.
Dow Futures rallied more than 300 points overnight as Joe Biden staged an incredible comeback on Super Tuesday. Once the front runner for the nomination, anti-Wall Street Bernie Sanders odds of securing the nomination have cratered in what is a positive development for the Dow Jones.
Dow Futures Rally As Joe Biden Dominates Super Tuesday
All three of the major U.S. stock market futures indices were higher overnight as the Nasdaq, Dow Jones and S&P 500 all rallied over 1%.
The price of gold was able to eke out a slight 0.3% gain, while crude oil was up 1.4% above $47 bbl.
After weeks of watching the coronavirus, traders took a brief pause from COVID-19 to fix their attention on the most significant night of the contest to be the Democratic candidate for the 2020 presidential election in November.
Joe Biden appeared to be on the verge of dropping out a few weeks ago, and now, supercharged by a big win in South Carolina, the former vice-president has completely flipped the script.
Dominating on Super Tuesday, Biden annihilated his closest competitor, Bernie Sanders, as the Senator from Vermont failed to prove he had expanded his voter base from 2016.
Some of the most significant results were Sanders losing in Oklahoma, a state where he comfortably beat Hilary Clinton in 2016, and Joe Biden pulling the upset of the night with a win in Massachusetts, a state he didn’t even bother to campaign in. This result has effectively ended Elizabeth Warren’s campaign, who failed to win her home state.
Sanders Hopes Plummet As Texas Race Gets Tight
The most substantial prize,…