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President Joe Biden announced his <a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">decision to drop out of the presidential race</a> in a letter posted on his official <a href="https://x.com/JoeBiden/status/1815080881981190320">X account</a> Sunday after growing pressure from colleagues in the Democratic party and <a href="https://www.benzinga.com/government/24/07/39852736/exclusive-biden-victory-fund-suspends-donor-calls-pause-calling-indefinitely-as-of-tonight">big-name fundraisers</a>. The president, who has been secluded while recovering from COVID-19, said he will speak to the nation in more detail later this week, <a href="https://www.cnn.com/2024/07/21/politics/joe-biden-drops-out-election/index.html">reported</a> CNN.
"It has been the greatest honor of my life to serve as your President," Biden wrote in the letter. "And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term."
<h2 class="wp-block-heading">Now What For Cannabis Legalization?</h2>
In mid-May, President Biden directed federal agencies to <a href="https://www.benzinga.com/cannabis">review the classification of marijuana</a>, aiming to reschedule it from a Schedule I to a Schedule III substance under federal law. This move followed numerous public statements, including his <a href="https://www.benzinga.com/markets/cannabis/24/03/37552483/biden-calls-for-cannabis-reform-in-state-of-the-union-a-historic-first-no-one-should-be-jailed-f">State of the Union address</a>, where he emphasized that no one should be in jail for possession of cannabis. 
With this significant step, legalization advocates might be wondering what's next.
"President Biden has taken historic steps toward ending the federal prohibition of cannabis, including starting the process to move it to Schedule III and pardoning thousands of Americans convicted of nonviolent cannabis offenses. We look forward to the current administration finalizing the rescheduling process, and we hope the next nominee will support formally ending federal cannabis prohibition,&#8221; said David Culver, senior vice president of public affairs at the U.S. Cannabis Council.
<h2 class="wp-block-heading">With Biden Out, VP Kamala Harris Would Be The Answer To The Question Of What&#8217;s Next</h2>
It&#8217;s safe to say that VP Harris has done a <a href="https://www.benzinga.com/markets/cannabis/24/03/37760731/vp-kamala-harris-urges-dea-to-reschedule-cannabis-as-quickly-as-possible-calls-prohibition-absur">total turn-around</a> on the topic of cannabis legalization as did her soon-to-be-retired boss. How could they not? After all, legalizing cannabis is among the <a href="https://www.benzinga.com/markets/cannabis/23/11/35674739/marijuana-legalization-support-hits-record-70-as-republicans-join-the-majority-shows-gallup-poll">most popular topics</a> shared by both Democrats and Republicans alike.
Harris has undergone a notable evolution in her stance on<a href="https://www.benzinga.com/general/biotech/24/03/37633391/usda-invests-10m-in-hemp-research-tribal-lands-and-bidens-hemp-biotech-initiative" target="_blank" rel="noreferrer noopener"> cannabis policy</a> since her days as a prosecutor in California enforcing marijuana criminalization to a U.S. Senator sponsoring a bill for its federal legalization. And her journey mirrors the <a href="https://www.benzinga.com/markets/cannabis/24/03/37673856/vp-harris-will-meet-rapper-fat-joe-and-others-pardoned-by-biden-for-cannabis-convictions-to-disc" target="_blank" rel="noreferrer noopener">shifting attitudes</a> toward cannabis in the United States.
On numerous occasions, especially in that past year, Harris has <a href="https://www.politico.com/news/2024/03/15/vice-president-to-hold-cannabis-roundtable-00146564" target="_blank" rel="noreferrer noopener">labeled</a> the current classification of cannabis —equivalent to heroin and considered more dangerous than fentanyl— as &#8220;absurd&#8221; and &#8220;patently unfair.&#8221;
In fact, and not to be trite, Harris learned not long ago on the <a href="https://www.benzinga.com/markets/cannabis/24/06/39212969/kamala-harris-gets-her-own-cannabis-strain-kamala-kush-whether-she-likes-it-or-not-watch-jimmy-k">Jimmy Kimmel show</a> that an Oregon-based company had created a strain after her, called "Kamala Kush." 
Harris used the opportunity to reiterate her&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/04/38349064/biden-and-harris-join-420-celebrations-with-matching-tweets-at-4-20-pm-on-cannabis-holiday" target="_blank" rel="noreferrer noopener">newly-found stance</a>&nbsp;that marijuana users should not face jail time.
&#8220;I think we both agree that people shouldn&#8217;t have to go to jail for smoking weed. And we&#8217;ve pardoned a number of people,&#8221; said the vice president. 
In the same interview, Harris also addressed the mostly debunked &#8220;cannabis as a gateway drug&#8221; theory.
So, is cannabis legalization in good hands if VP Harris ends up sitting at the biggest table in the West Wing? Most likely&#8230;yes.
<h2 class="wp-block-heading">And If Trump Ends Up In The White House?</h2>
That&#8217;s an even bigger question as Trump has remained mum on the topic. 
In April last year, he <a href="https://www.benzinga.com/markets/cannabis/23/04/31828477/trump-insinuates-engineered-weed-and-trans-depression-are-responsible-for-mass-shootings-violenc" target="_blank" rel="noreferrer noopener">told a National Rifle Association meeting</a> that the uptick in <a href="https://www.gunviolencearchive.org/reports/mass-shooting" target="_blank" rel="noreferrer noopener">mass shootings</a> across the country was "not a gun problem" but rather that "genetically engineered" cannabis and the trans community could be at fault and should therefore be investigated.
But as Don Murphy, founder of the American Cannabis Collective who attended last week&#8217;s Republican National Convention <a href="https://www.benzinga.com/markets/cannabis/24/07/39866755/trump-accepts-gop-nomination-as-party-begins-to-embrace-cannabis-legalization-says-republican-co">said</a>,&nbsp;&#8220;I don&#8217;t see Donald Trump sticking his finger in the eye of 80% of Americans.&#8221; 
His stance is still unclear.
Benzinga will be watching the reaction of key cannabis ETFs like the AdvisorShares Pure US Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>) closely on Monday trading. 
Photo: Shutterstock

Cannabis

Politics

MSOS

Joe Biden Drops Out: What Would Happen With Cannabis Legalization Under Kamala Harris Or Donald Trump?

In a surprising turn of events, President Joe Biden on Sunday decided not to run for a second term, prompting an immediate search for a new Democratic <a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">candidate for the next presidential election.</a>
What Happened: Biden&#8217;s decision follows a less-than-stellar debate performance and increasing concerns within the Democratic party about his capacity to serve another term. 
Despite his notable accomplishments like the bipartisan infrastructure bill and the Inflation Reduction Act, demands for Biden to step down have intensified.
The Democratic National Convention in Chicago this coming August will select a new nominee. Biden<a href="https://www.benzinga.com/news/24/07/39874088/biden-backs-harris-for-democratic-nominee-after-bowing-out-of-2024-race-i-want-to-offer-my-full-supp"> has already endorsed Vice President Kamala Harris</a> as his successor. However, the long-term consequences of this development could potentially result in a tumultuous convention.
Also Read: <a href="https://www.benzinga.com/news/24/07/39874154/bidens-exit-from-presidential-race-sparks-massive-reactions-from-first-lady-gavin-newsom-marjorie-ta?utm_campaign=Watchlist&amp;utm_source=Benzinga&amp;utm_medium=Email">Biden&#8217;s Exit From Presidential Race Sparks Massive Reactions From First Lady, Gavin Newsom, Marjorie Taylor Greene And More — Read The Reactions Here</a>
According <a href="https://www.businessinsider.com/biden-reelection-democrats-harris-newsom-whitmer-klobuchar-booker-cooper-moore-2024-2">to</a> Business Insider, other potential successors include Gov. Gavin Newsom of California, Gov. Gretchen Whitmer of Michigan, Sen. Amy Klobuchar of Minnesota, Sen. Cory Booker of New Jersey, Gov. Roy Cooper of North Carolina and Gov. Wes Moore of Maryland. Each potential nominee brings a distinct set of experiences and policy positions, paving the way for a vigorous nomination process.
Why It Matters: The decision by Biden not to seek re-election has significant implications for the Democratic party and the upcoming presidential race. The potential successors each bring their own strengths and policy positions, but also face their own challenges.
The selection process could be a contentious one, with the potential for division within the party. The outcome of this process will shape the Democratic party&#8217;s platform and strategy for the upcoming election, and could have far-reaching implications for the country.
Read Next
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39858552/majority-of-democrats-view-kamala-harris-as-a-strong-presidential-contender-poll" target="_blank" rel="noreferrer noopener">Majority Of Democrats View Kamala Harris As Strong Presidential Contender: Poll</a></li>
</ul>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

News

Who Could Possibly Succeed Biden Following His Exit From The  Presidential Race? Here Are 7 Names To Look Out For.

Former President Donald Trump called upon President Joe Biden to intervene in <a href="https://www.benzinga.com/news/24/07/39761579/biden-vs-trump-latest-poll-reveals-surprise-following-presidents-widely-criticized-debate-performanc">his ongoing legal cases. </a>
What Happened: On Saturday, Trump criticized Biden&#8217;s use of the Department of Justice (DOJ) in a <a href="https://truthsocial.com/@realDonaldTrump/posts/112818856258162775">post </a>on social media platform Truth Social.
Trump accused Biden of employing the DOJ to &#8220;harass and intimidate&#8221; his political adversaries. This comes a week after the former president survived an assassination attempt.
Trump&#8217;s tirade included allegations against Biden, branding him as the &#8220;worst president in the history of the United States&#8221; and a &#8220;weak and pathetic man.&#8221;
&#8220;We are under attack from Crooked Joe Biden, the WORST PRESIDENT IN THE HISTORY OF THE United States, and a Weak and Pathetic man who uses the &#8216;Justice&#8217; Department to harass and intimidate his Political Opponents because he is in no way capable of winning by himself. He has created a horrible precedent for the future. Democrat appointed Judges and Prosecutors, together with local D.A.'s and Attorney Generals, have played the game with them. Based on the opinion of legal scholars and experts, they had no good case out of the many against me, but of all the cases, their best shot was the documents case, a complete HOAX, in Florida,&#8221; Trump wrote.
He also took a jab at the DOJ&#8217;s raid on his Mar-a-Lago estate, terming it an &#8220;illegal&#8221; act and part of a &#8220;political witch hunt.&#8221;
Also Read: <a href="https://www.benzinga.com/news/24/07/39872154/trump-vs-biden-latest-round-of-polls-all-seem-to-suggest-grim-news-for-this-candidate">Trump Vs. Biden: Latest Rounds Of Polls All Seem To Suggest Grim News For This Candidate</a>
&#8220;They illegally RAIDED MY HOUSE, Mar-a-Lago, in that one. Well, that case was just THROWN OUT IN FULL IN THAT IT WAS UNCONSTITUTIONAL. THE OTHERS ARE ON WEAK GROUNDS, including those where we have Crooked Judges and Prosecutors. It is all a Political Witch Hunt, and Biden should insist that EVERYTHING NOW BE DROPPED. RUN A FAIR AND OPEN CAMPAIGN!!!,&#8221; Trump added in the post. 
Currently, Trump&#8217;s legal team is making efforts to squash the case against him in Georgia. His criminal case in New York led to his conviction on 34 counts of falsifying business records.
The case involving the former president&#8217;s classified documents was dismissed last week by Judge Aileen Cannon, but Justice Department special counsel Jack Smith is appealing the ruling.
Contrary to speculations that Trump would adopt a milder tone for the final leg of the campaign, he continued his criticism of both Biden and Rep. Nancy Pelosi in his convention acceptance speech.
Why It Matters: Trump&#8217;s demand for Biden&#8217;s intervention and his criticism of the DOJ&#8217;s actions highlight the ongoing tension between the two political figures. 
The former president&#8217;s legal troubles, including his conviction in New York and the ongoing case in Georgia, continue to cast a shadow over his political future. His recent comments suggest that he remains defiant, despite these challenges, and is unlikely to change his combative style of communication. 
This development could have significant implications for the political landscape in the United States.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/politics/24/07/39874123/trump-goes-in-full-attack-mode-after-biden-drops-out-of-race-says-president-is-certainly-not-fit">Trump Goes In Full Attack Mode After Biden Drops Out Of Race, Says President &#8216;Is Certainly Not Fit To Serve — And Never Was&#8217;: &#8216;Only Attained The Position Of President By Lies, Fake News, And Not Leaving His Basement&#8217;</a></li>
</ul>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Trump Calls Out Biden's Alleged Use Of DOJ To 'Harass And Intimidate Political Opponents' — And Asks For President's Help In Fiery Post: 'We Are Under Attack From Crooked Joe Biden'

President Joe Biden&#8216;s announcement <a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">to withdraw from the 2024 presidential race</a> has sparked a myriad of responses from politicians, experts, and celebrities alike.
What Happened: On Sunday, Biden, at the age of 81, made his decision public via a letter posted on social media platform X. The decision follows a less-than-stellar debate performance and growing pressure from fellow Democrats for him to step aside. 
First Lady Jill Biden voiced her support for her husband&#8217;s decision on X, while Biden&#8217;s granddaughter, Naomi Biden, expressed her pride in her grandfather&#8217;s service to the nation.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f495; <a href="https://t.co/VN2rZpyhVX">https://t.co/VN2rZpyhVX</a>
&mdash; Dr. Jill Biden (@DrBiden) <a href="https://twitter.com/DrBiden/status/1815083964207358095?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I'm nothing but proud today of my Pop, our President, Joe Biden, who has served our country with every bit of his soul and with unmatched distinction. Not only has he been—and will continue to be—the most effective president of our lifetime, but he has likely already cemented…
&mdash; Naomi Biden (@NaomiBiden) <a href="https://twitter.com/NaomiBiden/status/1815084080179912704?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/07/39854646/anthony-scaramucci-says-jd-vances-quest-to-wall-us-off-from-rest-of-world-could-be-an-economic-disas?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Says JD Vance&#8217;s Quest To Wall US Off From Rest Of World Could Be An Economic Disaster:</a>
Several prominent figures, including California Governor Gavin Newsom, Secretary of Transportation Pete Buttigieg and singer Barbra Streisand, lauded Biden&#8217;s presidency. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">President Biden has been an extraordinary, history-making president — a leader who has fought hard for working people and delivered astonishing results for all Americans. He will go down in history as one of the most impactful and selfless presidents. Thank you, <a href="https://twitter.com/JoeBiden?ref_src=twsrc%5Etfw">@JoeBiden</a>. <a href="https://t.co/HMUMEB1fTl">https://t.co/HMUMEB1fTl</a>
&mdash; Gavin Newsom (@GavinNewsom) <a href="https://twitter.com/GavinNewsom/status/1815085381081281005?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Joe Biden has earned his place among the best and most consequential presidents in American history. I am so proud to serve under his leadership, and thankful for his unwavering focus on what is best for our country.
&mdash; Pete Buttigieg (@PeteButtigieg) <a href="https://twitter.com/PeteButtigieg/status/1815091325772935356?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Joe Biden will go down in history as a man who accomplished significant achievements in his 4 year term. We should be grateful for his upholding of our democracy.
&mdash; Barbra Streisand (@BarbraStreisand) <a href="https://twitter.com/BarbraStreisand/status/1815093002454421554?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
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However, the reactions were not universally positive, with actor James Woods expressing apprehension about Biden&#8217;s future role.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If you think Joseph Biden was a danger to America as president, wait until you see what he'll be like as a bitter, enraged lame duck. He MUST resign immediately, lest he go even more insane than he already is. <a href="https://t.co/xK5U3bfcOi">pic.twitter.com/xK5U3bfcOi</a>
&mdash; James Woods (@RealJamesWoods) <a href="https://twitter.com/RealJamesWoods/status/1815087917431402681?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
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<figcaption class="wp-element-caption">Texas Governor Greg Abbott implied that Biden&#8217;s decision to step down was a premeditated strategy set in motion before his disastrous debate performance.</figcaption></figure>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It looks more and more like that very early debate was a set up to force Biden to step aside. Today's announcement may not have happened without that disastrous debate. <a href="https://t.co/b8aiitxfn7">https://t.co/b8aiitxfn7</a>
&mdash; Greg Abbott (@GregAbbott_TX) <a href="https://twitter.com/GregAbbott_TX/status/1815084574269177993?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
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Republican Representative Marjorie Taylor Greene also made a strong statement on X, following Biden&#8217;s decision to drop out from the race.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There's a soft civil war happening in the deep state and the elites in power. The Democrats, the IC, and their activists in the media have been lying to us saying there's nothing wrong with Biden for years. Next, they start a coup against him demanding he drop out of the race…
&mdash; Rep. Marjorie Taylor Greene&#x1f1fa;&#x1f1f8; (@RepMTG) <a href="https://twitter.com/RepMTG/status/1815094727580307799?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
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Also Read: <a href="https://www.benzinga.com/general/politics/24/07/39874123/trump-goes-in-full-attack-mode-after-biden-drops-out-of-race-says-president-is-certainly-not-fit">Trump Goes In Full Attack Mode After Biden Drops Out Of Race, Says President &#8216;Is Certainly Not Fit To Serve — And Never Was&#8217;: &#8216;Only Attained The Position Of President By Lies, Fake News, And Not Leaving His Basement&#8217;</a>
Why It Matters: Biden&#8217;s decision to withdraw from the 2024 presidential race has significant implications for the political landscape. His departure leaves a void in the Democratic party&#8217;s candidate lineup, opening the door for other potential candidates to step forward. 
Furthermore, the timing of his withdrawal, amid a positive COVID-19 diagnosis and following a disappointing debate performance, raises questions about the president&#8217;s health and political standing.
As the nation reacts to this unexpected news, the focus now shifts to who will emerge as the Democratic party&#8217;s presidential candidate for the 2024 election. The coming months will undoubtedly be a pivotal time in American politics.
Read Next
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39872063/political-strategist-says-these-three-democrats-could-replace-biden-in-the-presidential-race-and-vp" target="_blank" rel="noreferrer noopener"> Political Strategist Says These Three Democrats Could Replace Biden In The Presidential Race — And VP Harris Isn't One Of Them</a></li>
</ul>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Biden's Exit From Presidential Race Sparks Massive Reactions From First Lady, Gavin Newsom, Marjorie Taylor Greene And More — Read The Reactions Here

Following President Joe Biden&#8216;s stunning announcement on Sunday that <a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">he would not seek re-election this year</a>, former President Donald Trump quickly took to his platform Truth Social to denounce the president. 
Less than an hour after Biden issued a statement that he would &#8220;stand down&#8221; and &#8220;focus solely on fulfilling my duties as President for the remainder of my term,&#8221; Trump did not hesitate to denounce him. 
&#8220;Crooked Joe Biden was not fit to run for President, and is certainly not fit to serve &#8211; And never was! He only attained the position of President by lies, Fake News, and not leaving his Basement,&#8221; Trump wrote. &#8220;All those around him, including his Doctor and the Media, knew that he wasn't capable of being President, and he wasn't &#8211; And now, look what he's done to our Country, with millions of people coming across our Border, totally unchecked and unvetted, many from prisons, mental institutions, and record numbers of terrorists. We will suffer greatly because of his presidency, but we will remedy the damage he has done very quickly. MAKE AMERICA GREAT AGAIN!&#8221;
Biden&#8217;s announcement came a little over one week after 20-year-old Thomas Matthew Crooks attempted to assassinate Trump at rally near Butler, Pennsylvania. Following the incident, a number of Republicans believed it would boost the <a href="https://www.benzinga.com/news/24/07/39763322/republicans-say-trump-rally-shooting-is-a-game-changer-for-former-president-he-just-won-the-election">former president&#8217;s chances of winning the election.</a> 
Recent polls have largely <a href="https://www.benzinga.com/news/24/07/39872154/trump-vs-biden-latest-round-of-polls-all-seem-to-suggest-grim-news-for-this-candidate">confirmed Trump&#8217;s lead over Biden</a>, stoking fear among Democrats that Biden no longer had the appeal he once did when he defeated Trump resoundingly in the 2020 election. That year, Biden received 306 electoral votes compared to Trump&#8217;s 232. The president also garnered over 81 million popular votes in contrast to Trump&#8217;s 74 million. 
Yet, three years later, the tables appear to have turned. Despite his conviction in the hush-money case and multiple legal battles, Trump has increasingly gained momentum. Following his CNN debate with Biden in June, the embattled Republican presidential candidate gained a lead over <a href="https://www.benzinga.com/news/24/07/39655190/biden-vs-trump-debate-performance-hurts-president-but-this-factor-could-still-keep-him-in-contention">his successor in battleground states.</a> 
The former president, who promised to unite the country but has since returned to criticizing his rivals and denied the results of the 2020 election, now potentially faces Vice President Kamala Harris, whom <a href="https://www.benzinga.com/news/24/07/39874088/biden-backs-harris-for-democratic-nominee-after-bowing-out-of-2024-race-i-want-to-offer-my-full-supp">Biden endorsed on Sunday</a>. 
Betting odds recently showed that <a href="https://www.benzinga.com/government/24/07/39868059/markets-tremble-over-planned-china-chip-restrictions-trumps-election-odds-rise-crowdstrike-triggers">Harris may have a better shot of beating Trump</a> than Biden would have had.
See Also: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39873874/trumps-pleas-for-extra-security-repeatedly-ignored-by-secret-service-prior-to-assassination-attempt">Trump&#8217;s Pleas For Extra Security Repeatedly Ignored By Secret Service Prior To Assassination Attempt: Report</a></li>
</ul>

Trump Goes In Full Attack Mode After Biden Drops Out Of Race, Says President 'Is Certainly Not Fit To Serve — And Never Was': 'Only Attained The Position Of President By Lies, Fake News, And Not Leaving His Basement'

In a surprising turn of events, President Joe Biden has <a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">announced his withdrawal from the 2024 presidential race</a>, endorsing Vice President Kamala Harris as the Democratic nominee.
What Happened: Biden made his announcement via social media platform X, expressing his full support for Harris. He stated that choosing Harris as his vice president was his best decision as the party nominee in 2020.
&#8220;My fellow Democrats, I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term,&#8221; the statement read. &#8220;My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it's been the best decision I've made. Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats — it's time to come together and beat Trump. Let's do this.&#8221;
This endorsement from Biden is expected to significantly ease the fundraising process for the Biden-Harris campaign. Harris now stands as the Democratic frontrunner.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">My fellow Democrats, I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term. My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it's been the best… <a href="https://t.co/x8DnvuImJV">pic.twitter.com/x8DnvuImJV</a>
&mdash; Joe Biden (@JoeBiden) <a href="https://twitter.com/JoeBiden/status/1815087772216303933?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
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However, the structure of the Democratic National Convention remains uncertain. It&#8217;s unclear whether Harris will receive the nomination outright or face competition in a more open convention.
Why It Matters: Biden&#8217;s decision to step down and endorse Harris is a significant development in the 2024 presidential race. This move could potentially streamline the Democratic nomination process, giving Harris a clear path to the nomination. However, the uncertainty surrounding the structure of the Democratic National Convention could present challenges.
If Harris is to face competition in a more open convention, it could potentially divide the party and complicate the nomination process. On the other hand, if she receives the nomination outright, it could strengthen the party&#8217;s unity and improve her chances in the general election.
This development could also have implications for the Biden-Harris campaign&#8217;s fundraising efforts. Biden&#8217;s endorsement could attract more donors, easing the fundraising process. However, it remains to be seen how this will play out in the coming months.
In any case, this announcement marks a significant shift in the 2024 presidential race, setting the stage for an interesting election season.
Read Next
<a href="https://www.benzinga.com/news/24/07/39872063/political-strategist-says-these-three-democrats-could-replace-biden-in-the-presidential-race-and-vp" target="_blank" rel="noreferrer noopener"> Political Strategist Says These Three Democrats Could Replace Biden In The Presidential Race — And VP Harris Isn't One Of Them</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Biden Backs Harris For Democratic Nominee After Bowing Out Of 2024 Race: 'I Want To Offer My Full Support And Endorsement'

In a stunning turn of events, <a href="https://www.benzinga.com/markets/equities/24/07/39871866/an-inside-look-at-what-led-to-joe-bidens-uneasy-standing-among-democrats-as-election-nears">President Joe Biden has declared</a> that he will not be running for re-election in the 2024 presidential race, causing a major shift in the political landscape.
What Happened: As reported by <a href="https://www.cnn.com/2024/07/21/politics/joe-biden-drops-out-election/index.html">CNN</a> on Thursday, Biden announced his decision to withdraw from the race through a letter posted on his official account. He promised to provide more details in a forthcoming address to the nation.
&#8220;It has been the greatest honor of my life to serve as your President,&#8221; Biden wrote. &#8220;And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/RMIRvlSOYw">pic.twitter.com/RMIRvlSOYw</a>
&mdash; Joe Biden (@JoeBiden) <a href="https://twitter.com/JoeBiden/status/1815080881981190320?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
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This decision follows weeks of speculation about the 81-year-old president&#8217;s health and his capacity to campaign effectively against Trump and govern for another four years. It marks the first time in decades that a U.S. president has withdrawn from a reelection run, reminiscent of President Lyndon Johnson&#8217;s decision in 1968, according to CNN. 
See Also:<a href="https://www.benzinga.com/news/24/07/39872063/political-strategist-says-these-three-democrats-could-replace-biden-in-the-presidential-race-and-vp"> Political Strategist Says These Three Democrats Could Replace Biden In The Presidential Race — And VP Harris Isn&#8217;t One Of Them</a>
Biden&#8217;s decision comes amid a highly charged political campaign that includes an attempt on Trump&#8217;s life and dwindling support from congressional Democrats. This marks the end of a political career that has spanned half a century, with Biden entering as one of the youngest senators in U.S. history and exiting as its oldest president.
Concerns about the president&#8217;s mental faculties have been Biden&#8217;s biggest political liability since his first run against Trump in 2020. A disastrous performance at the June 27 CNN debate brought these concerns to the forefront of political conversation, ultimately dooming his reelection bid.
Why It Matters: Biden&#8217;s decision to withdraw from the 2024 race has significant implications for the upcoming election. His withdrawal opens up the field for other potential Democratic candidates and could potentially alter the dynamics of the race. Furthermore, this decision brings to the forefront the issue of age and health in presidential elections, a topic that has been a point of contention in recent years. The impact of this decision on the Democratic party and the 2024 presidential race will be closely watched in the coming weeks and months.
See Also:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39858552/majority-of-democrats-view-kamala-harris-as-a-strong-presidential-contender-poll">Majority Of Democrats View Kamala Harris As Strong Presidential Contender: Poll</a></li>
</ul>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Biden Drops Out Of 2024 Race In Bombshell Announcement: 'It Has Been The Greatest Honor Of My Life To Serve As Your President'

<a href="https://x.com/JoeBiden/status/1815080881981190320/photo/1">https://x.com/JoeBiden/status/1815080881981190320/photo/1</a>
<figure class="image"><img src="https://pbs.twimg.com/media/GTB11JnW8AAhCDP?format=png&amp;name=large" alt="A letter from President Biden" /></figure>

Government

Macro Economic Events

Macro Notification

Economics

General

President Joe Biden Announces He Will Stand Down And Will Not Run In The 2024 Presidential Election

As the reelection campaign of President Joe Biden faces mounting challenges, federal employees are reportedly experiencing a <a href="https://www.benzinga.com/news/24/06/39563576/following-debate-latest-poll-among-democrats-signals-major-trouble-for-joe-biden-although-theres-one">growing sense of unease.</a>
What Happened: The declining support for Biden has sent shockwaves through the Democratic party, leading to widespread concern among thousands of federal employees about potential changes in the White House.
Conversations with various federal employees have painted a grim picture of the mood within the U.S. government, including the White House, following weeks of political uncertainty, as reported <a href="https://www.politico.com/news/2024/07/21/federal-employees-panic-biden-00169895">by</a> Politico.
A significant number of employees are worried about the unclear future of the federal government leadership post-November.
Large group text chains among USDA staff members have been buzzing following Biden's disappointing debate performance, with officials sharing their apprehensions about the future of his administration. Some USDA employees are even considering leaving their positions prematurely.
Interestingly, the anxiety among federal employees is not solely about Biden, but also about his rival and the implications of a second Trump administration. The &#8220;drain the swamp&#8221; approach of former President Donald Trump has left many federal employees feeling disheartened and fearful, creating a pervasive sense of dread.
Also Read: <a href="https://www.benzinga.com/news/24/07/39872154/trump-vs-biden-latest-round-of-polls-all-seem-to-suggest-grim-news-for-this-candidate">Trump Vs. Biden: Latest Rounds Of Polls All Seem To Suggest Grim News For This Candidate</a>
According to the outlet, a White House official expressed feelings of &#8220;sadness&#8221; regarding the ongoing questions about whether Biden should continue his candidacy.
"We have to make some tough choices, we're in battle," the official said. "We need someone who can represent us. I am incredibly loyal to our president, but it's hard when you're putting your life on the line like many of us working every night, every day, when you don't know who is going to be on the top of the ticket."
&#8220;The first Trump administration was extremely challenging, leading to a mass departure of employees who opted for retirement,&#8221; a U.S. Park Service employee told the outlet. &#8220;If we do have an administration shift, other employees will also reconsider their positions and move to the private sector. I don't know what I'll end up doing.&#8221;
An employee from Health and Human Services revealed that there isn&#8217;t a unanimous opinion among their colleagues about whether Biden should continue or step down, but the fear of Democrats losing the White House in November is quite prevalent.
Why It Matters: The uncertainty surrounding Biden&#8217;s reelection campaign has not only impacted the political landscape but also the morale of federal employees. The potential shift in administration could lead to significant changes in the federal workforce, with many contemplating moving to the private sector. 
The fear of a second Trump administration has also contributed to the growing anxiety, highlighting the deep-seated concerns within the federal government. This situation underscores the importance of political stability for the functioning of the government and the well-being of its employees.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39761579/biden-vs-trump-latest-poll-reveals-surprise-following-presidents-widely-criticized-debate-performanc" target="_blank" rel="noreferrer noopener">Biden Vs. Trump: Latest Poll Reveals Surprise Following President's Widely Criticized Debate Performance</a></li>
</ul>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Biden's Struggling Campaign Strikes Fear In Federal Employees: 'We Have To Make Some Tough Choices, We're In Battle'

Experts believe that Japan&#8217;s increasing dependence on foreign digital services like&nbsp;Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Prime and&nbsp;YouTube&nbsp;Premium by&nbsp;Google Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) is contributing to a rising &#8220;digital deficit,&#8221; <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39766528/amazon-prime-and-youtube-premium-linked-to-japans-rising-digital-deficit-putting-pr" rel="noreferrer noopener">potentially pressuring the yen&#8217;s value</a>.
Two decades after implementing the &#8220;great firewall,&#8221;&nbsp;Xi Jinping-led Chinese government is reportedly testing artificial intelligence systems to ensure they align with socialist values. The&nbsp;Cyberspace Administration of China is compelling tech giants and AI startups, including&nbsp;ByteDance,&nbsp;Alibaba Group Holding Ltd.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), &nbsp;Moonshot, and&nbsp;01.AI&nbsp;, to participate&nbsp;in a mandatory <a target="_blank" href="https://www.benzinga.com/news/24/07/39829916/xi-jinpings-china-is-putting-worlds-most-stringent-regulations-on-ai-tech-giants-alibaba-bytedance-t" rel="noreferrer noopener">government review&nbsp;of their AI models</a>.
The U.S. Customs and Border Protection has found that the redesigned Electrocardiography in the Apple Watch does not violate patents held by AliveCor, a medical device company. This ruling further complicates AliveCor&#8217;s legal <a href="https://www.benzinga.com/markets/equities/24/07/39786086/apple-watchs-redesigned-ecg-doesnt-infringe-alivecor-patents-rules-us-customs" target="_blank" rel="noreferrer noopener">challenges against </a><a href="https://www.benzinga.com/markets/equities/24/07/39786086/apple-watchs-redesigned-ecg-doesnt-infringe-alivecor-patents-rules-us-customs" target="_blank" rel="noreferrer noopener">Apple Inc. </a><a href="https://www.benzinga.com/markets/equities/24/07/39786086/apple-watchs-redesigned-ecg-doesnt-infringe-alivecor-patents-rules-us-customs" target="_blank" rel="noreferrer noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</a>.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39776594/microsofts-iphone-moment-wedbush-analyst-dan-ives-expects-ai-to-add-1-trillion-to-v" target="_blank" rel="noreferrer noopener">Microsoft&#8217;s &#8216;iPhone Moment&#8217;? Wedbush Analyst Dan Ives Expects AI To Add $1 Trillion To Valuation</a>
Gaming, Telecom &amp; Media
Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) has decided to discontinue its most affordable ad-free subscription plan in the <a href="https://www.benzinga.com/general/entertainment/24/07/39852314/netflix-ends-lowest-priced-ad-free-plan-in-the-us-here-are-your-choices-now" target="_blank" rel="noreferrer noopener">United States and France beginning Thursday</a>.
Telecom giant AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) allegedly paid a hacker around $400,000 to delete sensitive data <a href="https://app.grammarly.com/ddocs/2531440807" target="_blank" rel="noreferrer noopener">they are said to have stolen</a>.
About 82% of American gamers made in-game purchases in&nbsp;freemium titles last year, according to Comscore&#8217;s 2024 State of Gaming<a target="_blank" href="https://www.benzinga.com/general/gaming/24/07/39844220/82-of-american-gamers-made-in-game-purchases-in-freemium-titles-last-year" rel="noreferrer noopener"> Report (via&nbsp;GamesIndustry.biz)</a>.
Warner Bros. Discovery Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) Warner Bros. Games and NetherRealm Studios lifted the veil on the final DLC character for &#8220;Mortal Kombat 1&#8221; — <a href="https://www.benzinga.com/general/gaming/24/07/39781446/mortal-kombat-1-unveils-final-dlc-character-takeda-in-gameplay-trailer" target="_blank" rel="noreferrer noopener">Takeda Takahashi</a>.
Microsoft Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Activision has officially confirmed the beta dates for &#8220;Call of Duty: Black Ops 6,&#8221; marking a significant <a href="https://www.benzinga.com/general/gaming/24/07/39805048/black-ops-6-first-multi-platform-beta-in-franchise-history-all-you-need-to-know" target="_blank" rel="noreferrer noopener">milestone for the franchise</a>.
Microsoft has unveiled a new Xbox controller inspired by none other <a target="_blank" href="https://www.benzinga.com/general/gaming/24/07/39826578/discover-xboxs-deadpool-inspired-cheeky-controller-and-how-to-get-it" rel="noreferrer noopener">than&nbsp;Deadpool himself</a>.
Nintendo ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>) recently teased a mysterious new project with the hashtag &#8220;#WhoIsEmio?&#8221; and a&nbsp;<a target="_blank" href="https://www.benzinga.com/general/entertainment/24/07/39826564/who-is-emio-nintendo-unveils-latest-famicom-detective-club-mystery" rel="noreferrer noopener">cryptic 15-second video</a>.
Larian Studios has officially announced details for the eagerly awaited <a href="https://www.benzinga.com/24/07/39804747/baldurs-gate-3s-patch-7-what-to-expect-from-the-upcoming-update" target="_blank" rel="noreferrer noopener">Patch 7 for &#8220;Baldur&#8217;s Gate 3.</a>&#8220;
Smartphones
In the second quarter of 2024, both&nbsp;Apple and&nbsp;Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) experienced a rise in smartphone shipments. However, the two tech giants saw a decrease in their overall market shares due to <a target="_blank" href="https://www.benzinga.com/news/24/07/39766167/apple-rides-on-heavy-discounts-and-promise-of-ai-to-stabilize-iphone-shipments-but-its-still-losing" rel="noreferrer noopener">stiff competition from Chinese rivals</a>.
After unveiling it at the Worldwide Developers Conference (WWDC) in June,&nbsp;Apple has started rolling out the first&nbsp;iOS 18&nbsp;public <a target="_blank" href="https://www.benzinga.com/news/24/07/39787448/apple-rolls-out-first-ios-18-public-beta-with-home-screen-customization-and-more-heres-how-you-can-g" rel="noreferrer noopener">beta to eligible iPhones</a>.
Apple has given the green light to&nbsp;UTM SE,&nbsp;the first PC&nbsp;emulator for&nbsp;iPhone&nbsp;and&nbsp;iPad. This decision comes after the tech giant initially rejected the app, despite revising&nbsp;its&nbsp;App Store&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/07/39765285/want-to-use-windows-linux-or-android-on-your-iphone-you-can-now-do-it-as-apple-approves-first-pc-emu" rel="noreferrer noopener">guidelines to&nbsp;allow game emulators</a>.
Also Read: <a href="https://www.benzinga.com/news/24/07/39768442/6-new-hidden-iphone-features-you-probably-havent-discovered-yet-on-ios-18" target="_blank" rel="noreferrer noopener">6 New Hidden iPhone Features You Probably Haven&#8217;t Discovered Yet on iOS 18</a>
Apple could end up pushing back the use of&nbsp;Taiwan Semiconductor&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) 2-nanometer chip technology for its <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39790358/production-delays-force-apple-to-skip-tsmcs-2nm-chip-for-iphone-17-report" rel="noreferrer noopener">upcoming&nbsp;iPhone 17 series</a>.
Apple should beat last year&#8217;s Prime Day results due to <a href="https://www.benzinga.com/top-stories/24/07/39776938/amazon-set-to-top-last-years-prime-day-results-due-to-early-deals-analysts-say" target="_blank" rel="noreferrer noopener">&#8220;early access deals,&#8221; analysts say</a>.
Top analyst&nbsp;Ming-Chi Kuo&nbsp;has cast&nbsp;doubt on the anticipated&nbsp;surge in&nbsp;Apple's upcoming <a target="_blank" href="https://www.benzinga.com/news/24/07/39852904/iphone16-projections-questioned-ming-chi-kuo-says-expecting-apple-intelligence-to-drive-sales-may-be" rel="noreferrer noopener">smartphone series,&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/07/39852904/iphone16-projections-questioned-ming-chi-kuo-says-expecting-apple-intelligence-to-drive-sales-may-be" rel="noreferrer noopener">iPhone 16</a><a target="_blank" href="https://www.benzinga.com/news/24/07/39852904/iphone16-projections-questioned-ming-chi-kuo-says-expecting-apple-intelligence-to-drive-sales-may-be" rel="noreferrer noopener">&nbsp;sales</a>.
Technology &amp; Artificial Intelligence (AI)
Google has been testing the integration of&nbsp;Ultra HDR&nbsp;image capture into a <a target="_blank" href="https://www.benzinga.com/news/24/07/39766388/googles-camera-updates-will-soon-let-apps-like-instagram-capture-ultra-hdr-images-heres-why-its-impo" rel="noreferrer noopener">limited camera API for&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/07/39766388/googles-camera-updates-will-soon-let-apps-like-instagram-capture-ultra-hdr-images-heres-why-its-impo" rel="noreferrer noopener">Android 14</a>.
Microsoft launched its AI image generation tool,&nbsp;Microsoft Designer, as a free&nbsp;iOS&nbsp;app, outpacing&nbsp;Apple as the world waits for the&nbsp;iPhone&nbsp;maker <a target="_blank" href="https://www.benzinga.com/news/24/07/39830846/microsoft-outpaces-apple-introduces-designer-ai-image-generation-tool-for-the-iphone" rel="noreferrer noopener">to introduce&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/07/39830846/microsoft-outpaces-apple-introduces-designer-ai-image-generation-tool-for-the-iphone" rel="noreferrer noopener">Apple Intelligence</a>.
Apple has stated that its OpenELM model is not used to power any of its AI or machine learning features, <a target="_blank" href="https://www.benzinga.com/news/24/07/39835993/apple-denies-using-youtube-videos-to-train-its-ai-features-after-report-claims-tim-cooks-company-use" rel="noreferrer noopener">including Apple Intelligence</a>.
AI startup&nbsp;Anysphere, the creator of an AI code editor named Cursor, is in the process of raising funds. The valuation of this round is a significant <a target="_blank" href="https://www.benzinga.com/news/24/07/39792802/openai-backed-startup-anysphere-raises-400m-in-new-funding-round" rel="noreferrer noopener">jump from the previous one</a>.
Researchers from the&nbsp;University of Tokyo have successfully attached&nbsp;living skin tissue to robotic&nbsp;faces, enabling them to &#8220;smile.&#8221; The smiling robot, featured in&nbsp;a study published&nbsp;by&nbsp;Cell Reports Physical Science,&nbsp;is the culmination of a decade-long&nbsp;research by&nbsp;Shoji Takeuchi&nbsp;and his&nbsp;team on the fusion of&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/07/39830453/days-after-elon-musk-deemed-university-of-tokyos-idea-pointless-scientists-develop-smiling-robot-wit" rel="noreferrer noopener">biological and artificial machines</a>.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39830093/tesla-bull-and-grok-investor-pierre-ferragu-compares-chatgpt-with-predicament-facing-call-center-emp" target="_blank" rel="noreferrer noopener">Tesla Bull And Grok Investor Pierre Ferragu Compares ChatGPT With Predicament Facing Call Center Employees: &#8216;Feel About As Useless As The Poor Soul On The Other End Of The Line&#8217;</a></li>
</ul>
Photo: Shutterstock

Tech

AAPL

AMZN

BABA

GOOG

GOOGL

MSFT

NFLX

NTDOY

SSNLF

What's New In the Consumer Tech World Last Week? News That You Should Know (July 14 - July 20, 2024)

Amazon.com Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Prime Day has become a major fixture on the retail calendar since its inception in 2015, offering Prime members exclusive access to a vast array of deals across categories.
As consumers grapple with rising living costs and remain wary of their spending, all eyes were on brands&#8217; sales performance during Prime Day. While Amazon applied deep discounts on its products, other brands used the event to drive sales and increase visibility, Similarweb noted in a recent report.
Let&#8217;s explore the top products by Best Sellers Rank from Prime Day&#8217;s latest edition on July 16-17, 2024.
Rising Consumer Confidence
According to the <a href="https://www.similarweb.com/corp/wp-content/uploads/2024/07/July-2024-Prime-Day-Results-Category-Sales-Data-and-Winning-Products.pdf?q_mailing_7TUvZ5g3BE7CrNcSCenbq4TDAt3qFkJC6h8yZ=RoPsTSVJi6Yu9bc2kWM95BeB2bakyagSa4Mv8mibxP9fzgtuPjcHqMrZr&amp;sbrc=1ihh4RV3MaVFuSWR-62q5AQ%3D%3D%24JsBv7LUf3VW1GXmvTNyO7A%3D%3D">report</a>, consumer confidence appears to be rising, with shoppers opting for more expensive products this year in the Electronics and Amazon Devices &amp; Accessories categories. Security cameras made up 60% of top Amazon Devices &amp; Accessories items. Apple Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) products, comprising 50% of the top 10 electronics on day two, were up to $291 more expensive than other top items in the category.
Health and Beauty Trends
Health goals were significant to consumers, with 80% of top grocery products offering nutritional or dietary benefits. Consumers remained loyal to their favorite beauty and personal care products, with minimal changes to the top products compared to last year. Korean products continued to be popular, taking the top five spots in the Beauty &amp; Personal Care category on day two.
Also Read: <a href="https://www.benzinga.com/news/24/01/36631415/this-amazon-applicants-interview-answer-earned-her-a-seat-3-feet-away-from-amazons-bezos">This Amazon Applicant&#8217;s Interview Answer Earned Her A Seat 3 Feet Away From Jeff Bezos</a>
Top Products by Best Sellers Rank
Consumers increasingly opted for higher-priced items in this category. Last year, eight out of the top 10 products were priced under $35, while this year only 5 are. Here are some top-ranked products:
<ul>
<li>Fire TV Stick, HD, sharp picture quality, fast streaming, free &amp; live TV, Alexa Voice Remote with TV controls Amazon $17.99</li>
<li>Ring Video Doorbell ‚1080p HD video, improved motion detection, easy installation ‚ Venetian Bronze Ring $49.99</li>
<li>Blink Outdoor 4, Wire-free smart security camera, two-year battery life, two-way audio, HD live view… 3 camera system Blink $99.99</li>
<li>Blink Video Doorbell &#x7C; Two-way audio, HD video, motion and chime app alerts and Alexa enabled…(Black) Blink $29.99</li>
</ul>
Continued Popularity of Bedding Products
Bedding products were particularly popular during Prime Day. In contrast, kitchen items were not as prevalent this year, with only one lunch box appearing in the top 10 on the second day. Top products included:
<ul>
<li>Queen Size 4 Piece Sheet Set &#8211; Comfy Breathable &amp; Cooling Sheets &#8211; White Oeko-Tex Bed Sheet Set CGK Unlimited $25.49</li>
<li>BISSELL Little Green Multi-Purpose Portable Carpet and Upholstery Cleaner, Car and Auto Detailer, Green, 1400B Bissell $81.67</li>
</ul>
Consumer Loyalty in Beauty Products
Consumers stayed loyal to their favorite beauty products, as 70% of top products from last year remained on the list. Korean beauty products dominated, securing the top five spots on day one. Notable products included:
<ul>
<li>COSRX Snail Mucin 96% Power Repairing Essence 3.38 fl.oz 100ml, Hydrating Serum for Face with Snail Secretion Filtrate COSRX $9.58</li>
<li>LANEIGE Lip Glowy Balm: Hydrate, Glossy, Lightweight, Moisturize &amp; Tint with Shea Butter Laneige $15.20</li>
</ul>
Read Next:
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<li><a href="https://www.benzinga.com/news/24/01/36625488/amazon-is-reportedly-using-a-secretly-disturbing-tactic-to-get-rid-of-unwanted-employees">Amazon Is Reportedly Using A Secretly Disturbing Tactic To Get Rid Of Unwanted Employees</a></li>
</ul>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Amazon Prime Day Sees Record Sales Despite Economic Woes

Entertainment

Latin America

Markets

The Funniest Guy In Latin America — Lucho Mellera Talks Comedy, Cannabis, Success: 'The Mandate To Pick Up The Shovel Is Obsolete'

With the start of a new week comes the excitement surrounding a new set of companies looking to make an impact through their public offerings. <a href="https://pro.benzinga.com/?utm_source=insights">According to Benzinga Pro</a>, these enticing companies are scheduled to trade publicly this week.
<ul>
<li>Concentra Group Holdings Parent, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CON#NYSE">CON</a>) becomes publicly listed starting on July 25, 2024. The company has a price range set between $23.00 and $26.00 with a 180-day lockup period. Concentra Group Holdings Parent, Inc will be offering 22,500,000&nbsp;shares at a per-share value of $24.50.</li>
<li>OneStream, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OS#NASDAQ">OS</a>) becomes publicly listed starting on July 24, 2024. The company has a price range set between $17.00 and $19.00 with a 180-day lockup period. OneStream, Inc will be offering 24,500,000&nbsp;shares at a per-share value of $18.00.</li>
</ul>
<h3>Understanding IPOs</h3>
Initial public offerings, or IPOs, are the transitional processes of private companies deciding to go public and offer shares to investors on exchanges. IPOs typically offer companies the ability to build capital by distributing shares across the market. A company interested in becoming publicly tradeable must first meet SEC requirements and work with investment banks through audits to determine pricing, offering date, and other important data points before the offering.
Companies and investment banks will work to establish a price range that the stock is expected to sell between. This is known as an offering range. Once a company goes public, its stock comes with an opening price. The insider lock-up period is usually a set number of days after an IPO where company insiders, or employees with a 10% or higher stake in their company, cannot sell shares.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

IPOs

A Look At Upcoming IPOs For The Week

During an episode of the popular <a href="https://www.benzinga.com/personal-finance/24/07/39821566/dave-ramsey-slams-instagram-rich-your-fancy-friends-are-probably-broke">Dave Ramsey</a> show, host and personal finance expert Dave Ramsey preaches on not investing in banks or savings accounts. Here's why he does not recommend this.&nbsp;
Ramsey, who is often known for his blunt but truthful advice, has warned his audience against <a href="https://www.benzinga.com/news/earnings/24/07/39819809/nice-up-9-in-a-month-how-should-investors-play-the-stock">investing</a> their hard-earned money into banks and savings accounts because, according to him, you're lending the bank your money.
Don't Miss:
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<li>Warren Buffett flipped his neighbor's $67,000 life savings into a $50 million fortune —<a href="https://www.benzinga.com/money/advisor-adv-warren-buffett"> How much is that worth today?</a></li>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/red-ventures"> The percentage may shock you</a>.</li>
<li>This Jeff Bezos-backed startup will allow you to<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> become a landlord in just 10 minutes, and you only need $100</a>.</li>
</ul>
"Don't be a loaner. Be an owner," Said Ramsey.&nbsp;
He explained, "When you put money in a bank you're lending them your money, and they're paying you interest," which he admits is often not a lot of interest. So, to make money, you need to be the owner of the money. How do people go about doing this? Ramsey advises putting it into an investment. He added, "There's never any money in putting your money in the bank." Own your money and not loan away your money.&nbsp;
This advice is targeted not only at investing in banks but also at investing your money in savings accounts. According to the personal finance expert, investing money in a savings account is not going to make you money on that money. On social media platform X, he wrote, "You're not trying to make money on this money. You're trying to save for specific purposes like emergencies, a down payment on a house, a family vacation, or even next year's Christmas fund." If investing your money into a savings account is something you want to do, Ramsey does acknowledge that a high-yield savings account is a better option but points out the cons of investing your money into a savings account instead of something like growth stocks.&nbsp;
See Also: General Motors and other leaders revealed to be<a href="https://www.benzinga.com/money/energyx"> investing in this revolutionary lithium start-up — allowing easy entry by launching at just $9.50 per share.</a>
High-yield savings accounts have higher interest rates, which means you can meet your savings goals more quickly. But here's the catch: they're not great for long-term saving goals or if you want to make money from your money. Ramsey admitted, "Though high-yield savings accounts provide a much higher rate of return than traditional savings accounts, they're still lousy for long-term investing." The other problem with savings accounts, according to Ramsey, is they don't ensure your money is actually growing in value.&nbsp;
If you are going to invest your money into one of these savings accounts, Ramsey advises people to only store their emergency savings and funds for immediate purchases in this account. Your retirement savings should be tied to better investment strategies. For Ramsey, this means investing in growth stocks.
During another episode of the Dave Ramsey show, the finance guru revealed that the key to Americans growing their first $1 million is to invest steadily in growth stocks, not banks.&nbsp;
<hr class="wp-block-separator has-alpha-channel-opacity" />
Trending: Rory McIlroy&#8217;s mansion in Florida is worth $22 million today, doubling from 2017 —<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> here&#8217;s how to get started investing in real estate with just $100</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
This year, Ramsey Solutions conducted its survey, The National Study of Millionaires, which surveyed over 10,000 millionaires. The study revealed that eight out of 10 millionaires surveyed said they invested in their company's 401(k) plan, and another 75% revealed that they invested consistently over the long term. Doing this is what can "cause people to get their first $1 million to $5 million," said Ramsey. Highlighting that this long-term approach to investing is a path to significant financial growth.&nbsp;
Ramsey advises people to make compound interest work for them by investing in growth mutual funds, which is something that he personally does with his money. "I invest in those in up times, in down times, in all times. I never stop." The great thing about mutual funds is that there are plenty of choices. You can choose to invest your money in income funds, money market funds, value funds and even hybrid mutual funds. So, according to Ramsey's advice, "Start investing and keep investing – no matter what."&nbsp;
Read Next:
<ul>
<li>Mark Cuban believes &#8220;the next wave of revenue generation is around real estate and entertainment&#8221; —<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> this new real estate fund allows you to get started with just $100.</a></li>
<li>Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a></li>
</ul>

Personal Finance

Dave Ramsey Preaches The Power Of Ownership Over Loanship, Saying 'There's Never Any Money In Putting Your Money In A Bank'

According to a report, the Secret Service consistently dismissed former President Donald Trump&#8216;s appeals for enhanced security measures for two years leading up to the recent <a href="https://www.benzinga.com/news/24/06/39563576/following-debate-latest-poll-among-democrats-signals-major-trouble-for-joe-biden-although-theres-one">assassination attempt on his life.</a>
What Happened: Trump had been persistently requesting for additional agents, the installation of magnetometers at large public gatherings and extra snipers for outdoor venues.
However, these pleas were repeatedly turned down by high-ranking officials who cited a scarcity of resources as the reason, <a href="https://nypost.com/2024/07/20/us-news/secret-service-honchos-denied-trump-additional-security-for-2-years-before-assassination-attempt-damning-report-reveals/?utm_campaign=nypost&amp;utm_source=twitter&amp;utm_medium=social">as</a> reported by The New York Post.
The Secret Service, working in partnership with local law enforcement, was responsible for security at the Pennsylvania rally where Matthew Thomas Crooks, a 20-year-old, opened fire. 
Crooks, stationed on a rooftop approximately 130 yards from Trump, discharged up to seven rounds, one of which reportedly grazed Trump&#8217;s ear and resulted in the death of a bystander behind the stage. Two others were severely wounded.
The security lapse triggered widespread anger, compelling the federal security agency to expand Trump&#8217;s detail to match that of President Joe Biden, as reported by The New York Post earlier this week. The Secret Service initially refuted allegations that Trump&#8217;s team had sought extra security prior to the shooting, labeling them as &#8220;absolutely false.&#8221;
Meanwhile, Trump has expressed his disbelief over how the assailant was able to gain access to a roof with a clear line of sight to him. The former president <a href="https://www.foxnews.com/video/6358699262112">shared</a> his concerns in an interview with Fox News, which is scheduled to air on Monday.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/07/39761579/biden-vs-trump-latest-poll-reveals-surprise-following-presidents-widely-criticized-debate-performanc" target="_blank" rel="noreferrer noopener">Biden Vs. Trump: Latest Poll Reveals Surprise Following President's Widely Criticized Debate Performance</a>
"You had Trumpers screaming, the woman in the red shirt, she was screaming, &#8216;Man on the roof,' and then other people [said,] &#8216;There's a man on the roof who's got a gun.&#8217; And that was quite a bit before I walked onto the stage. So, you would've thought somebody would've done something about it," Trump said in the interview.
The assassination attempt took place at a rally in Butler, Pennsylvania, last weekend. 
Secret Service Director Kimberly Cheatle repeatedly denied allegations in a meeting with Trump campaign leadership in Wisconsin last Monday.
However, in light of the revelation of substantial deficiencies in the former president&#8217;s security detail, the agency has since revised its position. 
Cheatle is under pressure to resign from both Republicans and Democrats. House Speaker Mike Johnson (R-La.) and Senate Minority Leader Mitch McConnell (R-Ky.) have called for new leadership at the agency.
Rep. Brendan Boyle (D-Pa.) was the first congressional Democrat to call for Cheatle&#8217;s resignation, citing &#8220;unacceptable operational failures.&#8221;
Why It Matters: The incident has raised serious questions about the Secret Service&#8217;s commitment to the safety of the former president. The agency&#8217;s initial denial of Trump&#8217;s requests for additional security, followed by a sudden change in stance after the assassination attempt, has led to public outrage and demands for accountability. 
The incident has also highlighted the potential risks faced by public figures, prompting a reevaluation of security protocols for high-profile individuals.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39872154/trump-vs-biden-latest-round-of-polls-all-seem-to-suggest-grim-news-for-this-candidate">Trump Vs. Biden: Latest Rounds Of Polls All Seem To Suggest Grim News For This Candidate</a></li>
</ul>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Trump's Pleas For Extra Security Repeatedly Ignored By Secret Service Prior To Assassination Attempt: Report

Florida's cannabis legalization initiative, known as Amendment 3, would <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d">legalize the possession of marijuana</a> for adults. To become law, the amendment needs at least 60% support from voters — a figure that seems to be within reach despite <a href="https://www.benzinga.com/markets/cannabis/24/06/39455304/desantis-fierce-opposition-notwithstanding-floridas-cannabis-legalization-amendment-shatters-all">vehement opposition</a> from Gov. Ron DeSantis and Florida&#8217;s Republican party. The amendment will be decided in the <a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">November 2024 elections</a>.
A newly formed DeSantis-backed coalition has now stepped into the fray with plans to defeat the initiative, which <a href="https://www.benzinga.com/markets/cannabis/24/06/39236840/desantis-is-less-popular-than-floridas-legal-cannabis-amendment-new-poll-that-also-shows-biden-g">has the support</a> of two-thirds of Florida voters, including a majority of Republicans.
That said, Vote No on 3 &#8220;has the full support of the Governor and plans to run a vigorous and full-throated campaign to warn Floridians about this deceptive amendment seeking to make Florida the California of the east — a notion anathema to most Floridians,&#8221; wrote representatives of the group in a Friday press release, <a href="https://floridapolitics.com/archives/685076-vote-no-on-3-launches-anti-pot-amendment-push/">reported</a> Florida Politics.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39827912/ron-desantis-blasts-floridas-cannabis-legalization-ballot-at-rnc-it-would-allow-80-joints-a-day-">Ron DeSantis Blasts Florida&#8217;s Cannabis Legalization Ballot At RNC: It Would Allow &#8217;80 Joints&#8217; A Day, Affecting Free Speech And Gun Rights</a>
<h2 class="wp-block-heading">DeSantis And GOP Bigwigs For &#8216;Vote No On 3&#8217; </h2>
Key figures in the campaign include James Uthmeier, DeSantis&#8217; chief of staff, who will participate on the Vote No on 3 board in a personal capacity, and Tre&#8217; Evers, a seasoned political consultant linked to DeSantis&#8217; presidential campaign efforts, is serving as the general consultant, noted the outlet.
The coalition argues that legalizing marijuana would bolster the black market and increase underage usage, while complicating the regulation of public marijuana consumption.
Supporters of Amendment 3, represented by Morgan Hill of <a href="https://www.benzinga.com/markets/cannabis/24/04/38313915/cannabis-in-florida-the-bellamy-brothers-tell-trulieve-ceo-we-rolled-a-fat-one-when-legalization" target="_blank" rel="noreferrer noopener">Smart &amp; Safe Florida</a>, argue that the initiative in fact offers a safer, regulated alternative to the current unregulated market, emphasizing consumer safety and freedom over criminalization.
<h2 class="wp-block-heading">Help From The Hemp Industry</h2>
Opposition to Amendment 3 is partly funded by a large contribution from hemp industry leaders, who recently <a href="https://www.benzinga.com/markets/cannabis/24/07/39760907/ron-desantis-floridas-gop-and-hemp-industry-pile-on-to-defeat-marijuana-legalization">donated $5 million</a> to the Republican Party of Florida after DeSantis&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/06/39243424/desantis-vetoes-bill-that-would-regulate-intoxicating-hemp-in-lifeline-to-industry-as-he-bashes-" target="_blank" rel="noreferrer noopener">vetoed a bill</a>&nbsp;in early June that would have limited and regulated the hemp industry. 
Vote No on 3 has not yet begun financial expenditures. The related Florida Freedom Fund recently reported approximately <a href="https://www.benzinga.com/markets/cannabis/24/06/39565658/desantis-anti-cannabis-florida-freedom-fund-raises-barely-a-fraction-of-legalization-committees-">$120,000 in campaign funds</a>, viewed as a drop in the bucket compared to over <a href="https://www.benzinga.com/markets/cannabis/24/06/39455304/desantis-fierce-opposition-notwithstanding-floridas-cannabis-legalization-amendment-shatters-all" target="_blank" rel="noreferrer noopener">$60 million</a> raised by Smart and Safe, the best-funded cannabis legalization amendment in American history. Much of the latter&#8217;s funding comes from Florida&#8217;s largest medical marijuana company <a href="https://www.benzinga.com/markets/cannabis/23/10/35206042/trulieve-donates-500k-to-floridas-marijuana-legalization-ballot-initiative" target="_blank" rel="noreferrer noopener">Trulieve</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), which has reportedly spent more than $40 million to get the measure on the ballot.
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<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39760907/ron-desantis-floridas-gop-and-hemp-industry-pile-on-to-defeat-marijuana-legalization">Ron DeSantis, Florida&#8217;s GOP And Hemp Industry Pile On To Defeat Marijuana Legalization</a></li>
</ul>
Image created by El Planteo

Legal

TCNNF

DeSantis-Backed Group Launches To Defeat Cannabis Legalization In Florida, GOP Bigwigs Are All In

These eleven mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Virtu Financial, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRT#NASDAQ">VIRT</a>) shares jumped 30.04% after reporting <a href="https://www.benzinga.com//node/39842408" target="_blank" rel="noreferrer noopener">better-than-expected Q2 financial results.</a></li>
<li>V.F. Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>) stock upped 22.38% after the company announced it entered into a Stock and Asset Purchase Agreement to sell its Supreme brand to EssilorLuxottica (OTC: <a href="https://www.benzinga.com//node/39819517" target="_blank" rel="noreferrer noopener">ESLOF) for $1.5 billion in cash</a>. Several analysts raised <a href="https://www.benzinga.com//node/39837581" target="_blank" rel="noreferrer noopener">their price forecasts on VFC</a>.</li>
<li>New Fortress Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFE#NASDAQ">NFE</a>) shares grew 20.19% after the company announced that it achieved First LNG for its initial Fast LNG asset <a href="https://www.benzinga.com//node/39859500" target="_blank" rel="noreferrer noopener">located offshore Altamira, Mexico</a>.</li>
<li>Riot Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) stock gained 16.06% in the last week amid a rise in the Bitcoin price.</li>
<li>Clarivate Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLVT#NYSE">CLVT</a>) stock grew 14.41%. The company partnered with Ohio Libraries Partner to <a href="https://www.benzinga.com//node/39831429" target="_blank" rel="noreferrer noopener">enhance resource sharing by 2025</a>.</li>
<li>AMN Healthcare Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMN#NYSE">AMN</a>) stock rose 14.22%.</li>
<li>BankUnited, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKU#NYSE">BKU</a>) stock rose 13.42% after the company reported <a href="https://www.benzinga.com//node/39834218" target="_blank" rel="noreferrer noopener">better-than-expected Q2 financial results</a>.</li>
<li>Marathon Digital Holdings Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) stock soared 12.67% last week on the back of Bitcoin gains.</li>
<li>eXp World Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>) stock was up 12.34%.</li>
<li>Zeta Global Holdings Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZETA#NYSE">ZETA</a>) was up 11.87% in the last week as <a href="https://www.benzinga.com/quote/ZETA/analyst-ratings" target="_blank" rel="noreferrer noopener">several analysts</a> raised their price forecasts on the stock.</li>
<li>NCR Atleos Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NATL#NYSE">NATL</a>) shares increased 11.39%. The company disclosed that the $2.3 billion-asset Black Hills Federal Credit Union (BHFCU) has expanded its partnership with Atleos by selecting ATM as a Service (ATMaaS) and ITM as a Service (ITMaaS) <a href="https://www.benzinga.com//node/39813077" target="_blank" rel="noreferrer noopener">to enhance self-service banking</a>.</li>
</ol>
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<li><a href="https://www.benzinga.com/news/large-cap/24/07/39873480/warner-bros-discovery-coinbase-are-among-10-large-cap-stocks-that-shined-most-last-week-july-14-ju" target="_blank" rel="noreferrer noopener">Warner Bros. Discovery &amp; Coinbase Are Among 10 Large Cap Stocks That Shined Most Last Week (July 14-July 20): Are The Others In Your Portfolio?</a></li>
<li><a href="https://www.benzinga.com/news/large-cap/24/07/39873577/amd-and-dominos-pizza-were-among-11-worst-performers-in-large-cap-space-last-week-july-14-july-20-" target="_blank" rel="noreferrer noopener">AMD And Domino's Pizza Were Among 11 Worst Performers In Large Cap Space Last Week (July 14- July 20) – Are The Others In Your Portfolio?</a></li>
</ul>
Photo via Shutterstock

Mid Cap

Movers

CLVT

ESLOF

EXPI

GTLB

MARA

NATL

NYCB

RIOT

SGRY

VIRT

ZETA

Riot Platforms & North Face Parent V.F. Corp Are Among 11 Mid-Cap Stocks That Performed The Best Last Week (July 14-July 20): Are Others In Your Portfolio?

In a recent episode of <a href="https://www.benzinga.com/personal-finance/24/07/39714688/suze-orman-breaks-down-8-things-you-should-absolutely-do-with-your-inheritance-including-retirem">Suze Orman's "Women &amp; Money" podcast</a>, she shares some important advice about financial intimacy before a couple marries. Her advice primarily covers two critical tips: getting to know everything you can about your significant other's financial habits and avoiding debt at all costs.&nbsp;
Don't Miss:
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<li>Warren Buffett flipped his neighbor's $67,000 life savings into a $50 million fortune —<a href="https://www.benzinga.com/money/advisor-adv-warren-buffett"> How much is that worth today?</a></li>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/red-ventures"> The percentage may shock you</a>.</li>
</ul>
A study from the Institute for Divorce Financial Analysts reveals that money issues are a contributing factor behind at least 22% of divorces. Other sources say that anywhere between 20% and 40% of divorces stem from financial problems.&nbsp;
Orman shares that in her book "The Courage to Be Rich," a chapter called Love and Money highlights all the questions couples should ask one another before getting married. "So, before you get married, what do you do financially?" she asks. "You become as financially intimate with each other, you know, the person&#8217;s finance habits."&nbsp;
She suggests that couples should ask questions and discover everything they can about their partners&#8217; spending habits – like, are they a big tipper even if they don't have money? What are their <a href="https://www.benzinga.com/money/credit-score-ranges">credit scores</a>? Do they save money well?&nbsp;
"You have to make sure that when you do get married, you pay all the bills together, and you make all the investment decisions together," Orman says. She also states that <a href="https://www.benzinga.com/personal-finance/24/03/37879066/kevin-oleary-warns-couples-maintain-your-own-financial-identity-but-indiana-university-study-say">couples should have three bank accounts</a>: one for each person as well as a combined account.&nbsp;
See Also: General Motors and other leaders revealed to be<a href="https://www.benzinga.com/money/energyx"> investing in this revolutionary lithium start-up — allowing easy entry by launching at just $9.50 per share.</a>
On financial intimacy, Orman points out that the family also plays a role, expressing that it's important to know what your expectations will be if you have a large family. "Are you expected to buy gifts and do all these things for all the family members on holidays and things like that? Regardless of your money, you have to know everything about them financially, intimately speaking."
Beyond financial intimacy, the second critical tip from Orman for financial success in marriage is to stay out of debt. "If all of a sudden you find that one of you is carrying a balance on your credit cards and only paying the minimum payment due, they have started going down the path of financial debt, credit card debt, which really can be the ruination of a relationship."&nbsp;
 Orman also states that couples shouldn't make large purchases without consulting their partner.
KT, Orman's co-host on the podcast, adds, "Financial intimacy is more difficult than personal intimacy. We both learned that from years and years of listening to what husbands, wives, partners, and spouses don&#8217;t know about each other."&nbsp;
Trending: Rory McIlroy&#8217;s mansion in Florida is worth $22 million today, doubling from 2017 —<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> here&#8217;s how to get started investing in real estate with just $100</a>
Many couples struggle with understanding each other's financial situations, leading to misunderstandings and conflicts. <a href="https://www.benzinga.com/personal-finance/24/04/38360464/dave-ramsey-says-when-you-get-married-combine-all-money-preacher-didnt-say-and-now-youre-a-joint">Open communication about finances</a> can help couples avoid these pitfalls.
On a parting note regarding debt, Orman shares that it's important not to start a marriage by going into more debt. "One last thing, don&#8217;t spend a lot of money on a wedding. And if anybody has to finance the wedding by putting it on a credit card, you cannot afford it. You are denied, don&#8217;t do it, don&#8217;t do it, don&#8217;t do it."
By understanding each other's financial habits, sharing responsibilities, and making prudent financial decisions, couples can build a solid foundation for a successful marriage. Financial success in marriage requires open communication, mutual understanding, and a commitment to staying out of debt.
For personalized advice tailored to your specific situation, consulting a <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a> can be invaluable in ensuring your financial strategies align with your long-term goals.&nbsp;&nbsp;&nbsp;
Read Next:
<ul>
<li>Mark Cuban believes &#8220;the next wave of revenue generation is around real estate and entertainment&#8221; —<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> this new real estate fund allows you to get started with just $100.</a></li>
<li>How do billionaires pay less in income tax than you?<a href="https://www.benzinga.com/money/tax-deferring-adv"> Tax deferring is their number one strategy</a>.</li>
</ul>

Suze Orman Shares Two Critical Tips For Financial Success When Getting Married – Says Arguments Over Money 'The Number One Reason For Divorce Today'

These eleven large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol>
<li>LPL Financial Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) shares tumbled 20.16%. The company announced that financial advisor Alex Williams, CFP, has joined its broker-dealer, RIA, and custodial platforms to launch a <a href="https://www.benzinga.com//node/39837738" target="_blank" rel="noreferrer noopener">new independent practice, Stable Wealth</a>.</li>
<li>Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) stock decreased 17.82%. Shares of semiconductor and hardware stocks are trading lower amid a selloff in the sector, which has gained <a href="https://www.benzinga.com//node/39842530" target="_blank" rel="noreferrer noopener">this year amid AI momentum</a>.</li>
<li>Domino&#8217;s Pizza Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) stock dived 17.78% after the company <a href="https://www.benzinga.com//node/39834307" target="_blank" rel="noreferrer noopener">reported mixed Q2 results</a>. Several analysts cut the price <a href="https://www.benzinga.com/quote/dpz/analyst-ratings" target="_blank" rel="noreferrer noopener">target on the stock</a>.</li>
<li>ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) shares were down 17.64% <a href="https://www.benzinga.com//node/39808860" target="_blank" rel="noreferrer noopener">following soft Q3 guidance</a>.</li>
<li>Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) shares plummeted 17.07%  after the company reported <a href="https://www.benzinga.com//node/39793390" target="_blank" rel="noreferrer noopener">second-quarter 2024 results</a>. Several analysts <a href="https://www.benzinga.com//node/39819032" target="_blank" rel="noreferrer noopener">cut their estimates on the stock</a>.</li>
<li>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) stock was down 15.38%.</li>
<li>Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) stock lost 15.24% last week amid reports President Biden is considering further China restrictions.</li>
<li>Onto Innovation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONTO#NYSE">ONTO</a>) shares decreased 15.22%.</li>
<li>Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) stock fell 14.64% amid reports Biden is considering further China restrictions. The semiconductor sector was also down <a href="https://www.benzinga.com//node/39808860" target="_blank" rel="noreferrer noopener">following soft Q3 guidance</a> from ASML.</li>
<li>Lam Research Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) stock declined 14.14% amid reports Biden is considering further China restrictions. The semiconductor sector was also down <a href="https://www.benzinga.com//node/39808860" target="_blank" rel="noreferrer noopener">following soft Q3 guidance</a> from ASML.</li>
<li>Applied Materials, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) stock fell 14.01%. Shares of several semiconductor stocks are trading lower amid reports President Biden is considering further China restrictions and following Republican nominee Donald Trump&#8217;s comments regarding the China-Taiwan <a href="https://www.benzinga.com//node/39819145" target="_blank" rel="noreferrer noopener">standoff in an interview</a>.</li>
</ol>
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/07/39873480/warner-bros-discovery-coinbase-are-among-10-large-cap-stocks-that-shined-most-last-week-july-14-ju" target="_blank" rel="noreferrer noopener">Warner Bros. Discovery &amp; Coinbase Are Among 10 Large Cap Stocks That Shined Most Last Week (July 14-July 20): Are The Others In Your Portfolio?</a></li>
</ul>
Photo courtesy of AMD

Large Cap

AMAT

ASML

CDNS

LPLA

LRCX

ONTO

SCHW

SMCI

AMD And Domino's Pizza Were Among 11 Worst Performers In Large Cap Space Last Week (July 14- July 20) - Are The Others In Your Portfolio?

An IT outage, triggered by a faulty update from cybersecurity firm CrowdStrike (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), has caused widespread disruptions to various services worldwide, <a href="https://www.benzinga.com/markets/equities/24/07/39871636/crowdstrike-issues-statement-following-massive-outage-that-stemmed-from-content-update-for-windo">impacting millions of Windows users</a>.
What Happened: The outage, which occurred on Friday, resulted in significant disruptions to air travel, banking services, and television broadcasts. 
Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) revealed on Saturday that the outage affected less than 1% of Windows users globally, which equates to approximately 8.5 million machines.
In a blog <a href="https://blogs.microsoft.com/blog/2024/07/20/helping-our-customers-through-the-crowdstrike-outage/">post</a>, Microsoft highlighted the widespread impact of the outage, attributing it to the extensive use of CrowdStrike by businesses running critical services. 
&#8220;This incident demonstrates the interconnected nature of our broad ecosystem — global cloud providers, software platforms, security vendors and other software vendors, and customers,&#8221; Microsoft shared in the post. &#8220;It&#8217;s also a reminder of how important it is for all of us across the tech ecosystem to prioritize operating with safe deployment and disaster recovery using the mechanisms that exist.&#8221;
Also Read: <a href="https://www.benzinga.com/markets/equities/24/07/39853528/microsoft-cloud-outage-grounds-flights-disrupts-operations-of-frontier-allegiant-and-sun-country">Microsoft Outage Wreaks Havoc On World As 911, International Airlines, Banks And Airport Services Disrupted</a>
The incident underscores the market dominance of both Microsoft and CrowdStrike, with Windows holding about 72% of the global operating system market share and CrowdStrike nearly 24% in the endpoint protection security category, as reported <a href="https://www.businessinsider.com/1-percent-windows-machines-affected-by-crowdstrike-outage-2024-7">by</a> Business Insider.
The faulty update released by CrowdStrike specifically affected Windows software, leaving Mac and Linux machines unaffected. 
The ensuing chaos forced airlines and hotels to revert to pen and paper for recording information, and some European hospitals had to cancel medical services.
Although CrowdStrike CEO George Kurtz announced that the issue had been &#8220;identified, isolated, and a fix has been deployed,&#8221; experts warn that it could take weeks for companies with limited IT personnel to resolve the issue on all devices.
Why It Matters: This incident highlights the vulnerability of global systems to IT outages and the potential consequences of such disruptions. The widespread impact of this outage, affecting critical services such as air travel and banking, underscores the importance of robust cybersecurity measures and the need for contingency plans in the event of such failures. 
The fact that it could take weeks for some companies to resolve the issue underlines the extent of the problem and the potential for ongoing disruptions. 
This incident serves as a stark reminder of the reliance of modern society on technology and the potential risks this poses.
See Also: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39870313/microsoft-crowdstrike-issue-caused-largest-it-outage-in-history-showing-how-much-we-depend-on-a-hand">Microsoft-CrowdStrike Issue Caused &#8216;Largest IT Outage In History,&#8217; Showing How Much We Depend On A Handful Of Companies</a></li>
</ul>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

CRWD

CrowdStrike Outage Impacted Less Than 1% Of Windows Devices But Still Managed To Wreak Havoc: Report

Press Releases

ROSEN, A LEADING INVESTOR RIGHTS LAW FIRM, Encourages Capstone Green Energy Corporation Investors with Losses to Secure Counsel Before Important December 12 Deadline in Securities Class Action – CGRN, CGRNQ

Small Cap

CGRN Investors Have Opportunity to Lead Capstone Green Energy Corporation Securities Fraud Lawsuit

CAPSTONE INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Capstone To Contact Him Directly To Discuss Their Options

CGRN DEADLINE ALERT: ROSEN, NATIONAL INVESTOR COUNSEL, Encourages Capstone Green Energy Corporation Investors to Secure Counsel Before Important December 12 Deadline in Securities Class Action - CGRN, CGRNQ

Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Capstone Green Energy Corporation (CGRN)

CAPSTONE DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Capstone Green Energy Corporation and Encourages Investors to Contact the Firm

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Capstone Green Energy Corporation - CGRNQ

CAPSTONE DEADLINE ALERT: Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Capstone To Contact Him Directly To Discuss Their Options

CGRN DEADLINE TOMORROW: ROSEN, A LEADING LAW FIRM, Encourages Capstone Green Energy Corporation Investors to Secure Counsel Before Important December 12 Deadline in Securities Class Action – CGRN, CGRNQ

DEADLINE ALERT for NKLA, CGRN, DMTK, and FTCH: The Law Offices of Frank R. Cruz Reminds Investors of Class Actions on Behalf of Shareholders

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