In today’s big story, we’re looking at President Joe Biden showing no signs of giving up his reelection campaign while former President Donald Trump secured a win from the Supreme Court.

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Despite a growing chorus of doubters, the president is digging in his heels over his decision to run for reelection, writes Business Insider’s John L. Dorman.

Biden’s campaign has been in full-blown crisis mode after the president’s disastrous debate against former President Donald Trump last week.

Criticism about Biden’s age and ability to serve another four years, previously only whispered about by supporters behind closed doors, was loud and public in the immediate aftermath.

Biden’s aides have done their best to defend the president’s performance, with one report suggesting the debate was held outside the hours when he’s usually at his best. But experts said spinning Biden’s struggles as a one-off to voters will ultimately backfire.

Still, the president seems intent on staying put. Despite the increased pressure to drop out, Biden’s family has reportedly urged him to stay in the race. If he did give up the nomination, it would only be if he was offered a “dignified way out,” according to The New York Times.

Who would fill in for Biden on the Democrats’ 2024 presidential ticket comes with its own issues.

A Biden campaign manager reportedly said if the president steps aside his war chest would mostly go to Vice President Kamala Harris. But in some Democratic circles, the VP isn’t being pitched as the best substitute for Biden.

Governors Gavin Newsom and Gretchen Whitmer are among the Democrats who have been floated to fill in for Biden. That chatter has reportedly left Harris’ camp frustrated that she isn’t considered the obvious pick.

Meanwhile, Trump secured a big win in his immunity case. The Supreme Court ruled that former presidents don’t get absolute immunity from criminal charges related to actions under the scope of the presidency, but they do get some.

That decision is set to be pivotal in Trump’s January 6-related indictment, with the court making clear some areas of the case can’t proceed. The president is also looking to use the ruling to throw out his Manhattan conviction.

But the case could have bigger implications than just Trump. Justice Sonia Sotomayor wrote in a dissenting opinion that the ruling created a “law-free zone around the President” whereby they could order the assassination of a political rival without facing prosecution.

🔔 Before the opening bell: US stock futures fall early Tuesday as investors await comments from Federal Reserve Chair Jerome Powell.

2. How a new $1 billion hedge fund is looking to stand out. Former Millennium exec Jonathan Xiong has his work cut out for him with the launch of Arrowpoint. The Asia-based multistrategy fund has big-name backers, like Blackstone and Canada’s largest pension, but faces a crowded field where heavyweights like Citadel and Millennium dominate.

3. Truist cools on tech. Keith Lerner, Truist Wealth’s chief strategist and co-chief investment officer, downgraded the firm’s rating on the tech sector from overweight to neutral. He’s still bullish on the space but views valuations as overvalued, seeing value in communication services and utilities instead.

2. Humans need another bot’s help to fix ChatGPT’s blunders. OpenAI unveiled CriticGPT, a tool designed to help human AI trainers spot errors in code produced by ChatGPT. As the chatbot has grown more sophisticated, its mistakes have become harder for humans to spot.

3. Abnormal Security is set to be valued at $5 billion with new funding round. It’s raised $374 million in venture funding, but it’s unclear how much it will raise with the new round. The startup, which uses AI to guard users from cyber threats across email and apps, was valued at $4 billion in 2022.

2. How much money would you need to feel financially secure? For Gen Z, it’s $200,000 a year — more than any other generation. Gen Zers, contending with rising costs, are feeling financially vulnerable. According to a previous BI poll, they’re the most stressed generation when it comes to saving money.

3. Kevin Costner’s bad real-estate bet. Kevin Costner mortgaged his home to put $38 million of his own money into his latest film venture, the western “Horizon.” Box-office numbers suggest this was a terrible idea.

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Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Annie Smith, associate producer, in London. Amanda Yen, fellow, in New York.

Get in touch. Email us at insidertoday@insider.com

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