Global stocks rise as Trump’s positive health update eases markets

05.10.2020 - Petr Mazaylo
Global stocks rise as Trump’s positive health update eases markets

Stock markets eased earlier on Monday over news that President Donald Trump could be discharged from hospital later in the day.

Trump was flown to hospital for treatment for the coronavirus on Friday, but his doctors say he has responded well and could return to the White House on Monday.

The news boosted U.S. S&P 500 e-mini futures up by 0.82% in Asian trading and Nasdaq futures by 1.11%.

Meanwhile, MSCI’s broadest index of Asia-Pacific shares outside Japan rose by 0.63%, while Japan’s Nikkei rose 1.39%. China’s financial markets were closed for a public holiday.

Down under, Australian stocks jumped 2.37% for the biggest daily gain in almost two weeks.

In the currency front, the U.S. dollar gained 0.22% against the Japanese Yen, trading at ¥105.60 per Dollar. However, against the Swiss Franc, the Greenback lost 0.3%, trading at $.109 with investors adjusting for safe-haven currencies.

The Australian Dollar gained 0.23% to $0.7181 after the Australian government announced additional wage subsidies to help the labor market.

The White House had initially sent mixed messages about Trump’s health, helping fuel political uncertainty and putting the investor focus tightly on any news about his condition.

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