How much do presidential debates matter to investors attempting to gauge the market impact of a victory from either President Donald Trump or challenger and former Vice President Joe Biden?
Jim Cramer said at the end of the day, most voters have already made up their minds and the debate may not matter as much as it would have in prior years. "Maybe, it's better if he [Trump] doesn't debate," Cramer said.
Trump and Biden were initially scheduled to debate for the second time in Miami, Florida on Thursday, Oct. 15 in a town hall format. However, the Commission on Presidential Debates (CPD) announced on Oct. 8 that the in-person debate will be moved virtual with both candidates in separate locations. Moderator Steve Scully, senior executive producer and political editor of C-SPAN Networks and the town meeting participants will still be on location at Adrienne Arsht Center for the Performing Arts of Miami-Dade County in Miami.
The third presidential debate is still expected to occur as scheduled at Belmont University in Nashville, Tennessee.
Following the decision, Trump said he would refuse to participate in a virtual debate in an interview with Fox News’ Maria Bartiromo.
Trump campaign manager Bill Stepien criticized the CPD’s decision in a statement. "The safety of all involved can easily be achieved without canceling a chance for voters to see both candidates go head to head. We'll pass on this sad excuse to bail out Joe Biden and do a rally instead,” Stepien said.
Later Thursday in a second statement, Stepien suggested the in-person town hall be moved back a week to Oct. 22 and the third and final debate be held on Oct. 29.
Meanwhile, the Biden campaign has announced Biden will participate in a town hall with voters in Philadelphia on Oct. 15. Biden’s team also rejected the Trump campaign’s proposal to reschedule the in-person debates.
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