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The Democratic National Convention kicks off Monday in Chicago and includes a highly anticipated speech from President Joe Biden, who stepped aside from the 2024 presidential election.
Here's a look at Monday's key speakers and what investors should know.
Biden's Speech: Biden will headline the first night of the DNC with a primetime speech emphasizing why Vice President Kamala Harris is fit to be president.
One of the themes of Biden’s speech is expected to be leadership and putting America above the president's own interest, the Democratic convention committee said in a statement viewed by CNBC.
"While Donald Trump puts himself first, Democrats are fighting for the American people," the Democratic convention committee said.
First Lady Jill Biden and former Secretary of State Hillary Clinton are also set to deliver prime time speeches Monday, as reported by CNBC.
The Bidens will leave Chicago Monday night for a vacation in California, according to the report. The president will not be on hand for a speech from former President Barack Obama or to officially see Harris accept the nomination on Thursday.
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Auto Stocks in Focus: United Auto Workers President Shawn Fain is also expected to speak Monday night. The union has endorsed Harris for president.
The UAW took on General Motors Corporation (NYSE:GM), Ford Motor Company (NYSE:F) and Stellantis NV (NYSE:STLA) in a battle over contract negotiations last year.
Recently, the UAW filed a lawsuit against Tesla Inc (NASDAQ:TSLA) CEO Elon Musk and Trump over comments made during an interview.
Fain’s speech could put the American automotive industry in the spotlight and, depending on what is said, could also put a negative spotlight on electric and imported vehicles.
Harris and Biden have been positive on the growth of electric vehicles and proponents of the sector, which could limit what Fain says about EVs.
The speech could put ETFs that have exposure to auto stocks and electric vehicle stocks in the spotlight. The KraneShares Electric Vehicles and Future Mobility ETF (NYSE:KARS) and Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) offer investors exposure to electric vehicles.
Abortion, Health Care In Focus: Harris highlighted efforts to cut health care costs and prescription drug costs in a speech on Friday. Health care could be a big focus Monday night alongside abortion rights.
Three women who had high-risk pregnancies will speak during the first day of DNC events Monday, as reported by the New York Times.
Each of the women faced hardships due to state abortion bans and the overturning of Roe v. Wade by the U.S. Supreme Court in 2022.
The speeches come as Harris' opponent, Trump, has expressed pride in being the driving force behind the overturning of Roe v. Wade.
Trump has shied away from a national abortion ban, saying the decision should be left up to individual states. States deciding abortion rights could lead to more stories like the ones expected to be shared Monday night by women who say their high-risk pregnancies almost killed them, and in some cases they had to leave their own state to get care.
Abortion rights could be a theme of all four nights of the DNC, according to the report, making it one of the biggest election issues highlighted by the Democratic Party at the convention.
Harris' focus on health care costs could put a spotlight on stocks in the sector. Investors could see health care stocks come under pressure if Harris is elected president, which could impact ETFs like the SPDR Select Sector Fund – Health Care (NYSE:XLV) and Vanguard Health Care ETF (NYSE:VHT).
Access to abortion pills could also put pharmacies like CVS Health Corporation (NYSE:CVS) and Walgreens Boots Alliance (NASDAQ:WBA) in the spotlight.
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Image created using artificial intelligence via Midjourney.
