Stocks rebound as Trump responds to COVID-19 treatment - Fox Business

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Yardeni Research President Edward Yardeni and Cornerstone Macro Co-Founder Nancy Lazar discuss what effect the president's health problems have on the economy

Stock futures rebounded on Monday, as President Donald Trump appeared to respond positively to the treatments his doctors are giving him for COVID-19.

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Stock Futures Rebound

Dow Jones futures were up 173 points, a gain of 0.6%, while NASDAQ Composite and S&P 500 futures were up 1% and 0.6%, respectively. This follows a sharp selloff on Friday.

Ticker	Security	Last	Change	Change %
I:DJI	DOW JONES AVERAGES	27682.81	-134.09	-0.48%
I:COMP	NASDAQ COMPOSITE INDEX	11075.0163	-251.49	-2.22%
SP500	S&P 500	3348.44	-32.36	-0.96%

Trump's medical team, which is using a number of different drugs, including Gilead Science Inc.'s Remdesivir, a cocktail from Regeneron Pharmaceuticals Inc. and the steroid dexamethasone, said he could be released from the hospital as soon as today.

Ticker	Security	Last	Change	Change %
GILD	GILEAD SCIENCES INC.	62.17	-1.15	-1.82%
REGN	REGENERON PHARMACEUTICALS INC.	564.80	-3.34	-0.59%

TRUMP'S POSITIVE COVID-19 TEST GIVES STOCKS WILD RIDE

Trump, 74, began tweeting Monday morning, highlighting the stock market.

This followed several videos released over the weekend. Trump also took a short ride from Walter Reed Medical Center in an SUV to thank his supporters, on Sunday afternoon, and tweeted "next year will be the best ever."

Investors may also be positive on an additional round of economic stimulus after Politico reported that Speaker of the House Nancy Pelosi and Secretary of the Treasury Steven Mnuchin met with Federal Reserve Chairman Jerome Powell to discuss additional plans for further government spending.

On Saturday, Trump tweeted that lawmakers should "work together" to pass an additional stimulus package.

European markets were responding positively as well, with the European STOXX 600 up 0.7%, while the German DAX, French CAC 40 and U.K.'s FTSE 100 all rose approximately 0.6%.

At 10 a.m., the ISM Non-Manufacturing Index for September will be released. Economists are looking for a reading of 55.6. A level above 50 is considered to reflect expansion.

Ticker	Security	Last	Change	Change %
BMY	BRISTOL-MYERS SQUIBB CO.	58.72	-1.10	-1.84%
MYOK	MYOKARDIA INC	139.60	-0.51	-0.36%

Bristol-Meyers Squibb Co. announced its intention to acquire MyoKardia for $13.1 billion, or $225 a share, in cash, a 62% premium to its Friday closing price.

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Oil futures were rebounding on Monday as well, up more than 4% to $38.55. Gold ticked down slightly to $1,903.80 an ounce, a loss of 0.2%.

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Stocks rebound as Trump responds to COVID-19 treatment - Fox Business
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