Bloomberg Daybreak: Asia Edition
Biden News Conference Reaction
Jul 12, 2024
Gregory Korte and Jitania Kandhari discuss President Biden's news conference fallout, potential successors, voter loyalty, political polarization, market movements, and China's third plenum speculation.
15:38
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Quick takeaways
- President Biden faces challenges but still has majority support within his party.
- Market rotations and concentration in U.S. market call for a need to broaden market for sustainable returns.
Deep dives
Challenges Faced by President Biden
President Biden faced challenges during a press conference, with some slips in his speech and hints of dissatisfaction even from within his own party. Despite calls for his resignation by a minority, most still support him. Speculations about his potential replacement, like Kamala Harris, were discussed, but Biden hasn't shown any inclination to step aside yet.
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