Home / Business / Stocks and futures gain thanks to Trump’s improved prospects: markets close

Stocks and futures gain thanks to Trump’s improved prospects: markets close

(Bloomberg) – US futures rose with global stocks on optimism that President Donald Trump may be able to leave the hospital as soon as Monday and is hoping for fresh economic stimulus. The yen retreated and the Treasury remained stable.

The Stoxx 600 index has made significant progress, with banks leading all industry groups to the upside. Equities in Asian and emerging markets rallied as crude oil reduced some of Friday’s plunge. Haven’s assets have dwindled, with lower gold and silver edging. The FTSE 100 index rose and the pound weakened as negotiators began a two-week period of intense Brexit talks.

A member of Trump’s medical team said on Sunday that the president could be discharged from the hospital as soon as Monday after treatment for Covid-19. But Trump’s condition remains clouded by confusion, with the president’s effort to show strength contradicted by conflicting reports from his doctors.

While the president’s positive Covid-19 test will dominate the headlines for some time, “for now the market appears to be cheered up by Trump’s overall treatment and recovery,” Commerzbank AG strategists wrote in a statement. including Charlie Lay.

On the stimulus front, Trump tweeted from the hospital that a deal needs to be struck. Nancy Pelosi on Friday was optimistic that a bipartisan stimulus bill could be made and said her diagnosis “changes the dynamic.”

Elsewhere in the markets, Cineworld Group Plc plunged 58% in London after it said it would suspend operations at all of its theaters in the US and UK.

Here are some key events coming up:

The Reserve Bank of Australia is expected to keep interest rates and its three-year yield target unchanged at 0.25% on Tuesday, Fed Chairman Jerome Powell and ECB Chief Economist Philip Lane will deliver keynote speeches at the NABE conference on Wednesday, the minutes of September .15-16 the FOMC meeting could be particularly fruitful for Fed observers, starting with the details of the debate on the conditions necessary to trigger a rate hike. held in Salt Lake City on Wednesday, although the final formal round of talks is over, the UK government expects trade negotiations to continue until the EU summit in mid-October.

These are the main moves in the markets:


S&P 500 index futures rose 0.3% at 8:12 am London time, Stoxx Europe 600 index rose 0.7%, MSCI Asia Pacific index rose 1.2 %, the MSCI Emerging Market Index gained 0.6%.


The Bloomberg Dollar Spot Index fell 0.1% to 1,173.30, the Euro gained 0.1% to $ 1.1727, the British pound fell 0.2% to $ 1.2903, and the Japanese yen fell 0.3% to 105.61 per dollar.


The yield on 10-year Treasuries fell by less than one basis point to 0.70%. The two-year Treasury bond yield fell by less than one basis point to 0.13%. Germany’s 10-year yield fell by one basis point to -0.55%. the annual yield fell by one basis point to 0.236%.

Raw material

West Texas Intermediate crude gained 1.8% to $ 37.68 a barrel, while gold weakened 0.5% to $ 1,889.97 an ounce.

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