Former President Barack Obama has officially endorsed Vice President Kamala Harris in her presidential run for the 2024 election. The former president joins a litany of Democrat leaders and megadonors who have already rallied behind the VP, giving their endorsements and financial backings.

Yahoo Finance senior columnist Rick Newman joins Catalysts to break down Obama's endorsement and what it means for Harris, her campaign, and the Democratic Party at large as sitting President Biden opts to "pass the torch to a new generation.

For more expert insight and the latest market action, click here to watch this full episode of Catalysts.

This post was written by Nicholas Jacobino