Wall Street's pick for the next POTUS? It all depends: Pros

Here's what needs to change for Ted Cruz: Pro
Steve Forbes on presidential candidates

As the U.S. presidential herd begins to thin out, Wall Street is now in a "better position" to support the remaining candidates, political veterans told CNBC's "Closing Bell" on Monday.

Wall Street has already started pouring big cash into 2016's presidential candidates. Republican senator Marco Rubio recently received a whopping $4 million dollars from hedge fund managers. Jeb Bush —who withdrew from the presidential race after a poor showing in South Carolina on Saturday—received $2.45 million, while the Democratic Party front runner Hillary Clinton, received $723, 361.

While the Democratic Party is down to Bernie Sanders and Clinton, the Republican race may still need to consolidate even, said Dan Clifton, head of policy research at Strategas Research Partners.

He added that Wall Street watchers were now in a "better position" to back a candidate, but more drop outs needed to occur.

"This Republican race should've started consolidating at the beginning of February," he said. "We just saw that consolidation really start after South Carolina."

Jeb Bush's withdrawal caught former republican presidential candidate and Forbes Media chairman, Steve Forbes, by surprise. Nonetheless, the publishing executive believes it was "the right thing."

"He did the right thing; it was over," Forbes told CNBC. "Poor showing; don't prolong the agony, get out, do it with dignity and grace, which is what he did."

Rubio vs. Kasich?

Donald Trump
Trump, Israel and the evangelical vote
Republican presidential candidate Donald Trump celebrates winning the South Carolina primary in Spartanburg, South Carolina (L). Former Secretary of State Hillary Clinton gives a victory speech to a packed room of supporters after winning the Democratic Nevada Caucus, at Caesars Palace in Las Vegas, Nevada (R).
Is Trump vs. Hillary inevitable?

Bush's withdrawal did accelerate the consolidation of the Republican race, as voters moved away from Bush and into Rubio's camp, Clifton noted.

"Rubio is ahead of Kasich in terms of what you might call the credibility race," Forbes told CNBC.

The former candidate considers that for the Ohio governor John Kasich to gain Wall Street's favor, he'll have to make a decent showing in Nevada on Tuesday.

"You've got to get through 12 primaries and caucuses to show that you've chops to go the distance," he said. "Otherwise is not going to work for him."