Super Tuesday has come and gone, leaving former Vice President Joe Biden a clear frontrunner in the Democratic primary. His only viable contender is Vermont Senator Bernie Sanders, a self-styled socialist who wants the government to take over the healthcare industry.
While the race isn’t quite over, it does appear that Biden is going to become the DNC’s presidential nominee. With Warren out and Sanders trailing behind, it was not surprising that stocks rebounded as a whole. Health stocks, in particular, seem healthy.
Many Health Companies Worried About “Medicare 4 All”
Both Sanders and Warren were running on campaigns that supported healthcare for all, though Warren had backed away from the initiative somewhat in recent months. Sanders, in particular, is dangerous to commerce and healthcare.
So, when Biden essentially secured the nomination during Super Tuesday, it was good news for businesses. The stock market, which had been falling for days prior, rebounded.
This was short-lived. There was still the federal rate cut, jobs reports, and more to content with, and the stock market itself is becoming steadily more volatile as a rule. But there’s no question the stock market would likely have been worse otherwise.
Biden Secures the Most Delegates
During Super Tuesday, Biden was able to secure nearly all the states except for a few, such as Texas and Vermont. This clear showing for Biden encouraged most to think of Biden as the likely candidate for the DNC.
Of course, Sanders isn’t going down without a fight, and there are still delegates available. Sanders could still win, but it’s looking bleak for him. As a progressive, he doesn’t have the majority of the DNC behind him, and very few people believe he might be electable.
The Consequences of Biden as a Nominee
A Biden vs Trump race looks more economically hopeful to big businesses than a Sanders vs Trump race, as Sanders promises to disrupt quite a few industries. Oil and gas, education, healthcare — all these are big ticket items that could adversely impact the economy. Of course, most voters aren’t voting based on economic strength alone.
When it comes to Biden vs Trump, Trump has overall shown himself to have more business-friendly policies. But Biden isn’t so far off Trump in terms of corporate friendliness, which is part of why moderates of both sides are supporting him.
The stock market is recovering after the coronavirus, especially after Biden’s strong showing. But it remains to be seen whether Biden is going to be able to keep his lead. Biden himself isn’t seen positively among progressive Democrats, which are still a large voting block. And while most polls show both Biden and Sanders beating Trump come the general election, those are just polls — the real election could go multiple ways.