US stock futures (^DJI, ^IXIC, ^GSPC) are reacting to Sunday's headlines that President Joe Biden will be exiting the 2024 presidential race, endorsing Vice President Kamala Harris as the Democratic nominee ahead of next month's Democratic National Convention (DNC) in Chicago.

Democrat backers and mega-donors have thrown their support behind Harris in the wake of this news.

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This post was written by Luke Carberry Mogan.