Iowa caucus: The votes start to count now

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VIEW IN BROWSER | SUBSCRIBE MON, FEB 03, 2020 CNBC POLITICS EDITOR'S NOTE Hello,      Tonight brings our first official read on where the race for the 2020 Democratic nomination stands, after candidates have spent more than a year campaigning. While Iowa is a small state with few delegates in the nominating contest, it is a crucial tone-setter for the rest of the campaign. Historically, Democrats who win the Iowa caucus have a great track record in securing the party's nomination.   Here are some key details to keep in mind:   There are still 11 Democrats running for president, but these four candidates are widely considered to be in the best position to win tonight: Joe Biden, Bernie Sanders, Elizabeth Warren and Pete Buttigieg. Recent polls in the state show Sanders, who describes himself as a democratic socialist, in the lead – and investors are starting to worry. Supporters of candidates who don't get 15% in the first phase will have to decide to back another candidate.  Then, after the second phase, support is tallied again. As CNBC's Tucker Higgins points out in his preview, the number of delegates each candidate receives is based on the number of supporters each candidate has once the nonviable contenders are eliminated. Caucus voters will have to be in line by 8 p.m. ET, and results will start rolling in soon after that. Keep checking CNBC.com and our social media feeds for developments. Note as well: In 2016, NBC News didn't call the caucus result until the wee hours of the next morning.   Of course, the Iowa caucus is just one of the big story lines to watch this week. The Senate holds its closing arguments in President Trump's impeachment trial Monday. Then, on Wednesday, senators will vote on whether to acquit him of charges of abuse of power and obstruction of Congress. Then, smack in the middle of it all, Trump will deliver his State of the Union address, where he will use his bully pulpit to campaign as well as set the agenda for his administration this year.   Make sure you get some rest. Stock up on coffee, too. It's going to be a long week.   Thanks for reading.   Thoughts? Email me at CNBCPolitics@nbcuni.com.     Have friends or colleagues who might like this newsletter? They can sign up here.  Mike Calia @Michael_Calia KEY STORIES  Iowa caucus: What it is, how it works and why it's important Here's what you need to know about the Iowa caucus, a crucial first step in the Democratic presidential primary process. 'I will pay more': Bloomberg unveils $5 trillion tax plan targeting the wealthy and corporations Bloomberg's said he wants to raise taxes on the rich, even if that would include him. Bloomberg founded L.P and has a net worth of more than $59 billion. Revolution or return to decency? Democrats' final Iowa arguments show their case against Trump The Iowa closing arguments from Sanders, Biden, Buttigieg and Warren showcase why they think they're the best candidate to beat Trump. Trump impeachment trial: Closing arguments tee up final vote after Senate rejects new witnesses A formal vote on whether to convict or acquit Trump is set for Wednesday, a day after the president is set to give his State of the Union address. If Bernie Sanders wins Iowa and gains momentum, that would spook the stock market Market volatility could pick up if Bernie Sanders wins the Iowa caucus and then moves on to win other primary races. Voters largely favor capitalism over socialism amid Sanders' rise in 2020 primary More than half of registered voters view capitalism positively and see socialism negatively, according to an NBC News/Wall Street Journal poll. Big Tech faces high-stakes test with Iowa caucuses Tech companies have recently ramped up their efforts to combat misinformation, especially for content related to the election. Democrats ditch donor requirement for debates, meaning Bloomberg could qualify The new rules will apply to the ninth Democratic presidential debate, which is scheduled for Feb. 19 in Nevada.       Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS