Stock Markets Rebound On Trump Health, Stimulus Hope

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Stock Markets Rebound On Trump Health, Stimulus Hope

This White House handout photo released October 4, 2020 shows US President Donald Trump working in the Presidential Suite at Walter Reed National Military Medical Center in Bethesda, Maryland on October 3, 2020, after testing positive for COVID-19.

After spending the weekend in hospital — with conflicting reports about the severity of his condition — Trump’s medical team said he had “continued to improve” and could return home as early as Monday. “Over the weekend, Mr Trump expressed his desire for Republicans and Democrats to compromise and make a deal with respect to the proposed coronavirus relief package.”

If there is no pre-election stimulus agreement, ThinkMarkets analyst Fawad Razaqzada indicated that a Joe Biden win might mean “the Democrats could then pass their original $3.4 trillion stimulus in January … a much bigger package than would be possible in a potential bi-partisan agreement pre-election.

 

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Oil prices rebound 2% on Trump’s health, Norway strike escalationMr Trump’s health update eased political uncertainty in global markets, pushing Brent up to $40.10 a barrel by 0613 GMT, gaining 83 cents or 2.1 per cent.
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