Inventory index futures will likely be in focus after they begin buying and selling Sunday night within the wake of President Joe Biden saying he’ll now not run for reelection.

S&P (SPX), Dow (INDU) and Nasdaq 100 (NDX:IND) futures begin buying and selling at 6 p.m. ET on the CME.

Bitcoin (BTC-USD) +1%, which trades 24 hours, sank forward of the official announcement by Biden and that drop accelerated. Nevertheless it recovered these losses and moved into the inexperienced.

“Views are likely to differ on how the news of President Biden dropping out of the presidential race will impact US stock futures when they start trading later this afternoon (and beyond),” Mohamed El-Erian, advisor at Allianz, tweeted. “I suspect that (some) will interpret this as implying greater uncertainty on what can be said about policies after the November elections (though they differ on why).”

“Some will see markets as having already priced in the news given the extent to which pressure had been building in the last couple of weeks; and yet others will view this as constituting a short-term distraction for markets at best,” he stated.

“All this is to say that there is genuine uncertainty on how markets will – AND should – react to the news.”

Expensive readers: We acknowledge that politics usually intersects with the monetary information of the day, so we invite you to click on right here to affix the separate political dialogue.