INDIANAPOLIS (WISH) — Here is a look at Monday’s business headlines with Jane King where she discusses Biden’s departure from the election, U.S. economic growth and more.

Business leaders react to Biden leaving reelection race

President Biden’s announcement that he will not accept the Democratic Party’s nomination for the presidency in the 2024 election spurred quick reaction from major business leaders and trade groups.

Elon Musk said in a post on X that he will continue to support the Republican ticket despite Biden dropping out of the race.

Reid Hoffman, LinkedIn founder, endorsed Vice President Kamala Harris as being the right person at the right time to serve as the Democratic Party’s nominee in November.

The U.S. Chamber of Commerce, which is the largest trade group for businesses in the U.S., says it looks forward to continuing to engage with leaders across the political spectrum.

Economists optimistic on U.S. economic growth

Economists surveyed by the Wall Street Journal showed optimism about U.S. growth.

Unlike last year, when more than half had forecast recession, almost three-quarters now expect expansion in the coming year.

The July survey also predicted unemployment to remain almost level over the next two years.

Tech outage hits CrowdStrike share price

Shares of CrowdStrike will continue to be the focus Monday – the stock fell 11% Friday.

Known as a dominant supplier of software that protects businesses from ransomware attacks, CrowdStrike was thrust into the spotlight on Friday as it struggled to fix a faulty patch that led to cascading, system-wide failures, paralyzing the operations of clients ranging from banks to global retail giants to health-care systems.

Study: Best age for first smartphone is 14-16

A New York University mental health researcher says the right time to give a child a smartphone is age 14 to 16.

A Sapien labs study found some 74% of girls who received their first smartphone at age 6 said they felt distressed or were struggling, and 42% of boys who got their first smartphone at age 6 experienced feeling distressed or struggling.

Hallmark already has new Christmas ornaments out

USA Today reports that as part of its keepsake ornament premier, Hallmark is releasing 250 brand new ornaments.

The summer release is a tradition going back 50 years.

Some of this year’s new ornaments include “Peanuts” cartoon characters and an Xbox video game console complete with light and sound.