Markets hope for Donald Trump’s recovery.
The prospect of a recovery from Trump gives investors hope.
Signs of a rapid recovery of US President Donald Trump, make stock marketers confident at the beginning of the week.
Dax and EuroStoxx50 each rose around one percent on Monday to 12,828 points and 3222 points, respectively. On Wall Street, too, after the price losses at the end of the week, investors took hold of it again.
“For the stock market, the news of the US president’s illness has at least a good side. After all, the likelihood of an early approval of the economic props could have increased,” said market analyst Jochen Stanzl, from trading house CMC Markets, on Donald Trump’s recovery.
The US President was taken to hospital on Friday for treatment of the virus-induced disease Covid-19. Trump’s illness four weeks before the presidential election, has caused unrest on the stock markets at the end of the week.
Despite the positive signals, there was still some uncertainty among investors, regarding Donald Trump’s recovery. Several traders had expressed concern that Trump had received additional oxygen and steroids, according to doctors.
The prospect of further economic aid in the USA, provided a strong tailwind. The President of the House of Representatives, Nancy Pelosi, had recently spoken of progress in the talks. In addition, Trump asked both sides to come to an agreement at the weekend, said David Madden, a market analyst at brokerage firm CMC Markets.
The most important topic in the markets remains the state of health of US President Donald Trump, at the start of the week. After the stock exchanges reacted with alarm on Friday, to the news of Trump’s corona disease, the Euro rate barely moved at the start of the week. The leading index Dax rose in early trading by 1.10 percent to 12,828.31 points. The MDax of the 60 medium-sized stocks rose on Monday by 1.68 percent to 27,706.29 points.
Trump’s corona disease also dominated the foreign exchange market. The dollar fell 0.4 percent on a basket of currencies. In return, the Euro rose to $ 1.1783. Ulrich Leuchtmann, foreign exchange expert at Commerzbank, said with a view to the treatment of Trump in the hospital and the consequences for the election campaign:
“One does not know whether the greatest risk of the US election – a long political and legal battle for the election result – is lower or not got bigger.”
All eyes are on Donald Trump’s recovery.