U.S. stocks climbed on Monday after President Donald Trump said he will be discharged from the hospital this evening.
 | MON, OCT 05, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 116.50 | +3.48 | +3.08% | | CSCO | 38.57 | +0.30 | +0.78% | | MSFT | 210.38 | +4.19 | +2.03% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAPL | 116.50 | +3.48 | +3.08% | | SCHW | 36.94 | -0.73 | -1.94% | | GE | 6.41 | +0.02 | +0.31% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 116.50 | +3.48 | +3.08% | | AAL | 13.12 | +0.12 | +0.92% | | AMD | 86.15 | +4.35 | +5.32% | |
| |
President Donald Trump's coronavirus diagnosis may finally bring investors something they have sought for months – a fresh stimulus deal. Trump's illness underscored the urgency for further Covid-19 aid and changed the "dynamic" of the talks in Washington, as House Speaker Nancy Pelosi put it last week. Months of negotiations had led nowhere, while the economy is still struggling to recover from unemployment and other damage.  Pelosi and Treasury Secretary Steven Mnuchin held another hourlong phone call Monday and "plan to exchange paper" in preparation for further discussions Tuesday. "The stimulus chatter brought back into focus a macroeconomic path to substantially higher asset prices ... and that's why stocks rallied," said Tom Essaye, founder of the Sevens Report. Some analysts said stocks could break out to new highs if an agreement is struck before the election. The S&P 500 is about 5% below its record from Sept. 2. Trump's improving health condition also boosted sentiment. Major averages hit session highs on Monday after Trump said he will be leaving Walter Reed National Military Medical Center this evening, just three days after he entered the hospital to be treated for coronavirus. Catch The News with Shepard Smith at 7 p.m. ET on CNBC. The nightly newscast provides deep, non-partisan coverage and perspective on the day's most important stories. |
Post a Comment