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DOW Share Futures Rise 150 Points By Close of Trade

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Stock-index futures rose modestly in the evening as investors tracked President Donald Trump’s response treatment for COVID-19 after he was hospitalized for the disease late Friday.

Futures on the Dow Jones Industrial Average YM00, 0.68% rose 154 points, or 0.6%, to 27,719, while S&P 500 futures ES00, 0.64% had been up 0.5% at 3,357.25. Nasdaq-100 futures NQ00, 0.91% gained 0.7% to trade at 11,313.

The Dow DJIA, -0.48% on Friday fell 134.09 points, or 0.5%, to 27,682.81, as benchmarks ended well off session lows scored after the news that is initial of diagnosis. The S&P 500 SPX, -0.95% on ended 32.36 points reduced, down 1% at 3,348.44, whilst the Nasdaq Composite COMP, -2.22% finished 251.49 points lower, down 2.2%, at 11,075.02 friday.

What’s driving the market?
Investors and analysts had been already bracing for a run-up that is volatile the Nov. 3 presidential election before Trump’s diagnosis. The weekend saw reports that are conflicting the timeline of Trump’s therapy and their condition.

Coronavirus update: Expert calls for ‘radical transparency’ on Trump’s coronavirus progress and treatment as more in president’s circle test positive

Analysts stated the concern that is primary investors at present revolves around whether Trump’s illness will affect a presidential race in which he continues to lag behind Democratic challenger Joe Biden. Related, investors are prospects that are weighing agreement on a stimulus package. Stock-index futures rose modestly in the evening as investors watch Trump.

“In the near term…the dramatic turn of events could be a catalyst for the stimulus agreement — or it may not; we watch for bills to be put to Congress and votes become taken,” said Julian Emanuel, chief equity and derivatives strategist at BTIG, in a note.“ With key financial data expanding its run of disappointments versus expectations and high-profile corporate layoffs, additional aid would seem imperative. ”

Results of a Wall Street Journal/NBC Information poll conducted in the 2 days after Tuesday’s highly contentious debate that is presidential before news of Trump’s COVID-19 diagnosis showed Biden expanding his lead to 14 percentage points, a 53% to 39per cent advantage, among registered voters. The survey revealed Biden with an 8-point lead last month and an 11-point advantage in July, previously his lead that is biggest of the campaign.

“The initial stock market a reaction to news of President Trump’s COVID test never made much sense,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics, in a Sunday note. “Sure, markets do not like uncertainty, but in a country where the election is only four weeks away, and very voters that are few undecided, it is hard to see how Mr. Trump’s
diagnosis materially changes the race.”

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