Mar 3, 2020 - Economy & Business

Investors are warily eyeing Bernie Sanders' Super Tuesday performance

Dion Rabouin
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Data: PPIC Statewide Survey; Note: 535 surveyed by household income, 573 of all likely voters. ±5.7 percentage point margin of error; Chart: Andrew Witherspoon/Axios

With Amy Klobuchar and Pete Buttigieg out of the 2020 U.S. presidential race, today's primaries will be a major test for Joe Biden and Bernie Sanders.

Why it matters: For the markets, Sanders' economic policy proposals and anti-Wall Street rhetoric are seen as a major potential negative for the stock market and a good showing could put him one step closer to the Democratic party nomination and the presidency.

What's happening: Sanders has a commanding lead in California, which has by far the most delegates of any state voting today.

  • A recent survey from Public Policy Institute of California (PPIC) shows Sanders with a wide lead.
  • The latest CBS News Battleground Tracker/YouGov poll also shows Sanders with a significant advantage, at 31%, with Biden at 19%, Elizabeth Warren at 18% and Mike Bloomberg at 12%.
  • Polls also show Sanders with a sizeable lead in Texas, which holds the second highest number of delegates.

Be smart: Only candidates who receive 15% of the vote will get a share of the state's delegates.

  • The PPIC study also asked respondents who their second choice would be and Warren led with 22%, followed by Sanders with 19%.
  • Biden, who received endorsements from Klobuchar and Buttigieg Monday night, got 13% of second place votes, while Bloomberg received just 9%.

Go deeper: Inside the Bernie economy

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March 10 Democratic primaries: What you need to know

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A total of 352 delegates in six states are up for grabs in today's Democratic Party primaries.

Why it matters: It's the first time voters cast ballots since Super Tuesday, which crystallized the contest as a one-on-one race between Former Vice President Joe Biden and Vermont Sen. Bernie Sanders. Hawaii Rep. Tulsi Gabbard is still competing but has far fewer delegates than her opponents.

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Former Vice President Joe Biden gestures as he speaks during a campaign rally in Detroit on March 9. Photo: Mandel Ngan/AFP via Getty Images

Joe Biden is the projected winner in the Michigan, Mississippi, and Missouri presidential primaries, per AP. The news agency also projected early Wednesday that he won Idaho.

The big picture: Democratic voters in six states are choosing between Bernie Sanders' revolution or Joe Biden's so-called Return to Normal campaign, as the candidates compete for the party's presidential nomination and the chance to take on President Trump.

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Biden reborn with a massive Super Tuesday comeback

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Super Tuesday made Joe Biden the 77-year-old Comeback Kid, clipping Bernie Sanders' wings and transforming the Democratic primary into a two-man race.

Why it matters: Biden's campaign was broke and all but dead until he won South Carolina on Saturday. The revival that unfolded across 14 states last night was built not only on strong support from African Americans but also a consolidation of white, establishment Democrats around the former vice president.

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