Biden faces pivotal day as Democrats return to DC By

As lawmakers are World-famous foreign exchange dealersset to reconvene in Washington D.C. following the July 4 holiday week, close to 10 House Democrats have expressed their desire for President Joe Biden to not seek re-election.

Moreover, reports have surfaced that Senator Mark Warner of Virginia is rallying a group of Senate Democrats to support this stance despite the fact that Biden remains the presumptive Democratic nominee for the time being.

His interview with ABC News on Friday evening has done little to quell concerns about his acuity. The 22-minute segment was described as barely sufficient to keep him in the race, but not convincing enough to dispel doubts about his fitness for office.

The return of lawmakers to the capital after the holiday is seen as a critical moment that could reshape Biden's candidacy.

"Monday could well be the inflection point," TD Cowen strategists said in a note.

The discussions and decisions made in the coming days are expected to have a significant impact on the Democratic nomination process.

In the event that Biden decides not to run, it is widely believed that Vice President Kamala Harris would be the likely successor. 

"If it's not Biden, hard to see how it is not the VP. We suspect Biden would probably endorse Harris out of the gates along with the Obamas and Clintons."

"Importantly, she would have access to the ~$200M in campaign funds for the Biden-Harris re-elect — other nominees would have a lot more strings attached to that money," TD Cowen strategists added.

In the meantime, President Biden is campaigning in U.S. swing state of Pennsylvania in a major attempt to energize his key voters and salvage his campaign.

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