Vice President Kamala Harris is a better candidate for Wall Street and the stock market than President Joe Biden, CNBC’s Jim Cramer said Monday. Biden on Sunday ended his struggling re-election campaign and threw his support behind Harris to replace him at the top of Democratic ticket in the race against Republican nominee Donald Trump. A formal nomination process must play out, but many political observers see Harris — who previously represented California in the Senate and served as that state’s attorney general — as the most likely replacement for Biden. Harris as the Democratic nominee would “absolutely” be a net positive for the stock market and American business compared with Biden, Cramer said on “Squawk on the Street.” “There’s no doubt about it,” he said. Cramer contended that Harris has a more sophisticated view on business issues than Biden, particularly on the technology industry. Many of the world’s largest tech firms, such as Apple , Google parent Alphabet and Instagram owner Meta Platforms , are headquartered in Harris’ home state of California. “What she offers is a level of understanding about the greatness of the megacaps that Biden wanted no part of,” said Cramer, who has been critical of the Biden administration’s aggressive stance toward antitrust enforcement. “This whole idea that she’s a clone of his, it’s just completely wrong,” Cramer added.
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