Trump recovery pushes Wall Street further up | Financial

The Dow Jones index went from a gain of 0.9% to 1.3% and rose to 1.6% around 9:30 PM. The S&P 500 was up 1.7% gain and the Nasdaq benefited 2.2% gain.

The news that President Trump was returning from his treatment in a military hospital today pushed up the yield or effective yield for US Treasuries in addition to stocks.

The yield for 10- and 20-year government debt went to a five-week high. According to Trump’s private doctor, Sean Conley, the president is no longer bothered by respiratory complaints.

Democrats and Republicans seem to be reaching an agreement on a stimulus package. Nancy Pelosi, Speaker of the House of Representatives, and US Treasury Secretary Steven Mnuchin are said to have discussed the new bailout package with the Federal Reserve.

The dollar retreated 0.4% against the euro at € 0.8501. Jane Foley, chief currency strategy at Rabobank, warned of “too much optimism” about President Trump’s plight.

In the commodities market, Nymex oil was up 5.5%. The market is preparing for the arrival of the tropical storm Delta, which will lead to the closure of drilling platforms and less supply. Gold and silver gained light ground.

Surprise in medicine

Shares of drug suppliers Regeneron Pharmaceuticals (+ 7%) in Gilead Sciences (+ 3%) – which has a partnership with Galapagos in the Netherlands – recorded higher. They have been linked by investors to some drugs that would have successfully helped President Trump reduce his corona complaints this weekend. Alexion Pharmaceutics was 2% higher in the Nasdaq.

In any case, after the admission, Trump was given dexamethasone in addition to oxygen, which, according to the World Health Council, is reserved for patients with “severe and critical covid-19”.

Banks as JPMorgan (+ 2.2%) and payment services such as PayPal were at the top of the Dow Jones.

Takeover news circulated with two major listed insurers Hartford Financial Services Group in Cincinnati Financial. The price of both shares rose by 5%.

The share MyoKardia rose 60% after Bristol Myers Squibb reported buying the biotech company for $ 13 billion to expand its cancer drug portfolio.

Shares of energy companies also went up in the S&P 500 index. Oil producers returned to the top after two weeks of declines.

The company active in the Netherlands Albemarle rose over 4%. Weir Group sells its oil and gas division to machine builder Caterpillar. Caterpillar was up 2%, Weir was up 17% in London.

Cinema operator Cineworld collapsed with 36% on the stock market. It closed all UK theaters. The premiere of the new James Bond has been postponed.

Headed to the bottom Norwegian Cruise Line with a loss of 2.5%.

More relevant financial news for free in your mailbox? Sign up here On.

–