Welcome to Seeking Alpha's Wall Street brunch, our Sunday look ahead to this week's market moving events,

along with the weekend's top news and analysis.

Hello, today is Sunday July 21st, and I'm your host, Kim Khan.

Biden drops out.

President Joe Biden says he's stepping down from the presidential race, ending his re-election campaign after he lost the support of senior Democrats

some had concerns over his ability to beat Donald Trump.

In a post on X, Biden wrote that he will continue in his role as president until his term

ends in January 2025 and will address the country this week. Stock futures will be in focus

when they begin trading Sunday evening. Bitcoin, which trades 24 hours, sank ahead of the official announcement by

Biden and that drop accelerated, but it has recovered most of those losses, and it's down

less than 1%.

Muhammad L. Arian, advisor at Alians, said views are likely to differ on how the news of President

Biden dropping out of the presidential race will impact U.S. stock futures when they start trading

later this afternoon and beyond.

I expect that some will interpret this as implying

greater uncertainty on what can be said about policies after November

elections, though they differ on why. Some will see markets as having already priced in the news given the extent to

which pressure has been building in the last couple of weeks, yet others will view

this as constituting a short-term distraction for markets at best.

Biden endorsed his vice president

Kamala Harris to be the nominee of the Democratic Party this year. It has been the

greatest honor of my life to serve as your president and while it has been my

...