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Entry 2020.10.06 07:01
The Standard & Poor’s (S&P) 500 index rose 60.16 points (1.80%) to 3408.60, while the Nasdaq index oriented to technology stocks rose 257.47 points (2.32%) to 1,332.49, respectively.
The stock market rose the day after President Trump announced that he was discharged at 2:37 pm, saying, “I am leaving this wonderful Walter Reed Military Hospital at 6:30 pm today.”
As Wall Street concerns about whether President Trump’s condition is worse than known has waned, the uptrend has grown. This concern spread to the market after medical personnel told President Trump at a press conference the day before that the World Health Organization (WHO) had administered dexamethasone, a steroid drug recommended only for seriously ill patients.
Marketwatch analyzed that the expectation that several experimental drugs could be marketed to the general public sooner than expected, thanks to the effectiveness of Trump’s treatment, also had a positive effect on the stock market.
Furthermore, investors noted that the discussion on new stimulus, which had been stagnant for a long time, has advanced. Finance Minister Stephen Manusin and Democratic House Speaker Nancy Pelosi are said to have spoken for an hour on the same day and reduced their disagreements. President Trump also tweeted, urging an agreement to “cooperate and do it quickly.”
Some show the view that the width of the lead of the Democratic Party presidential candidate Joe Biden increased to double digits after the first presidential debate and it was confirmed that President Trump reduces uncertainty. In a joint poll published the previous day in the Wall Street Journal (WSJ) and NBC, Biden widened the gap with President Trump by 14 percentage points.
International oil and gold prices also rose. West Texas Crude Oil (WTI) for November delivery closed at $ 39.22, an increase of 5.9% ($ 2.17) per barrel from the previous trading day, and gold for December delivery closed at $ 1,920.10, an increase of 0.7% ($ 12.50) per ounce. .
