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US equity futures rose Monday in hopes that President Donald Trump could be released from the hospital later in the day, alleviating some of the political uncertainty that rocked Wall Street in the previous session.
FILE PHOTO: The New York Stock Exchange is displayed in the Manhattan borough of New York City, New York, USA, October 2, 2020. REUTERS / Carlo Allegri / File photo
TOKYO: U.S. equity futures rose Monday in hopes that President Donald Trump could be discharged from the hospital later in the day, alleviating some of the political uncertainty that rocked Wall Street in the past. previous session.
Trump, 74, was airlifted to the 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.
S&P 500 e-mini futures were up 0.45% in early Asian trading, while Nasdaq futures were up 0.58%.
Asian markets seemed keen to follow suit with Australian S & P / ASX 200 futures rising 1.16%, Japanese equity futures rising 0.75% and Hong Kong Hang Seng Index futures rising 1.16%. 1.38%.
The dollar rose against the yen, but fell slightly against the Swiss franc, as traders competed for a position that could one day be volatile in global markets.
Doctors treating Trump say they are satisfied with his progress. Relief from his health could fuel a rally in equities and other risky assets as investors prepare for the run-up to next month’s US presidential election.
“Stocks and other risk traders should be well supported to ease concerns about Trump’s health,” said Junichi Ishikawa, senior currency strategist at IG Securities in Tokyo.
“For the dollar, the impact is not that clear. It should fall against most currencies due to an increase in risk appetite, but the yen is also weak, and that is the currency against which the dollar can rise”.
Investors around the world were shocked Thursday night after Trump announced that he and the first lady had tested positive for coronavirus.
With less than a month to go until the November 3 presidential election, Trump’s contraction of the coronavirus is another source of market volatility that makes the outcome of the vote even more difficult to predict.
In currency markets, the dollar rose 0.19 percent to 105.54 yen, but fell 0.48 percent to 0.9171 Swiss francs, as some investors adjusted their positions in safe-haven currencies.
Gold, another asset often bought in uncertain times, was up 0.1 percent to $ 1,900.92.
Brent crude futures were up 0.25% to $ 39.37 a barrel, while US crude futures were up 0.4% to $ 37.20 a barrel.
(Reporting by Stanley White; Editing by Sam Holmes)
