Wall Street opened with higher indexes on Monday after news of President Donald Trump’s potential release from the Covid-19 hospital where he is currently admitted circles in the media. Latest reports also suggest there might be a new deal on the table very soon regarding the second stimulus package.
Wall Street Opens With A Fresh High On Monday After The September Swoon
According to stock value charts, the DJIA (Dow Jones Industrial Average) shows an increase of 142.61 points recently. The figure comes to an estimated increase of 0.52% since September fall. It opened at 27,825.42 this Monday. Among others, S&P 500 rose 18.83 points, that is an increase of 0.56% according to Wall Street. S&P 500 opened at 3,367.27 on Monday. Nasdaq Composite also showed a considerably higher index opening at 11,169.11 during the opening bell on Monday. It gained almost 94.09 points or an increase of 0.85%.
After the September lows, Wall Street could have used such a relief moment. The nation suffered immensely due to the prolonged months of shutdown and complete economic lockdown. However, September proved to be the meanest low in the stock market in the five months of lockdown. The figures went so low that it crossed the low suffered during October 2018. During the end of September, investors preyed on a correctional market taking the stock value higher but only to crash at a terrible low after that moment.
President Donald Trump Might Soon Get Released From The Hospital
With Monday’s opening figures, Wall Street announces a moment of relief. This news comes after reports suggesting that President Trump might be released from the hospital where he is staying at the moment for his Covid-19 treatment soon.
Trump and the First Lady had contracted the virus this week. As reported by the President himself in a tweet on October 2, he stated that @Flotus (Melania Trump) and he tested positive for Covid-19. Additionally, he mentioned that they will soon begin their quarantine and get over this together.
On the other side, ongoing negotiations show promising outcomes for the second coronavirus stimulus package. A deal that is due for months now should be finalized soon. After the House Democrats proposed an updated version of their earlier HEROES Act, negotiations have stirred up among Congressmen.
Nancy Pelosi, House Speaker announces that we should have a ready stimulus package by the end of this week. These reports have lifted sentiment of distraught Americans eagerly looking forward to the stimulus package. Wall Street also hopes to gain once such a deal is in place to boost the economy.