Crédito: fuente
Ed Yardeni of Yardeni Research discusses his outlook for the markets.
Stocks rebounded on Monday, as President Donald Trump appeared to respond positively to the treatments his doctors are giving him for COVID-19. Investors are also eager for more developments on stimulus talks.
FOX Business has learned House Speaker Pelosi and U.S. Treasury Secretary Steven Mnuchin will speak again today in efforts to come to a deal.
LIVE Stock Market & Business Updates
All three of the major averages rose at the opening bell, shaking off losses from Friday, with the Dow Jones Industrial Average tacking on over 300 points and the S&P 500 and Nasdaq Composite adding over 1% each.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 28051.11 | +368.30 | +1.33% |
| I:COMP | NASDAQ COMPOSITE INDEX | 11284.931138 | +209.91 | +1.90% |
| SP500 | S&P 500 | 3396.9 | +48.46 | +1.45% |
Trump’s medical team, which is using a number of different drugs, including Gilead Science Inc.’s Remdesivir, a cocktail from Regeneron Pharmaceuticals Inc. and the steroid dexamethasone, said he could be released from the hospital as soon as today.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GILD | GILEAD SCIENCES INC. | 63.76 | +1.59 | +2.56% |
| REGN | REGENERON PHARMACEUTICALS INC. | 604.67 | +39.87 | +7.06% |
TRUMP’S POSITIVE COVID-19 TEST GIVES STOCKS WILD RIDE
Trump, 74, began tweeting Monday morning, highlighting the stock market and retirement accounts.
This followed several videos released over the weekend. Trump also took a short ride from Walter Reed Medical Center in an SUV to thank his supporters, on Sunday afternoon, and tweeted «next year will be the best ever.»
On Saturday, Trump tweeted that lawmakers should «work together» to pass an additional stimulus package.
The ISM Non-Manufacturing Index for September jumped to 57.8, beating estimates of 56.3, as the services sector continued to improve. A level above 50 is considered to reflect expansion.
In corporate news, AMC shares tumbled after Cineworld, parent company of Regal, announced plans to suspend over 500 theatres in the U.S. starting October 8 due citing «challenging theatrical landscape» tied to COVID-19.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT HOLDINGS INC | 4.18 | -0.47 | -10.15% |
In deal-making, drug stocks were in focus.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BMY | BRISTOL-MYERS SQUIBB CO. | 58.87 | +0.18 | +0.31% |
| MYOK | MYOKARDIA INC | 220.33 | +80.73 | +57.83% |
Bristol-Meyers Squibb Co. announced its intention to acquire MyoKardia for $13.1 billion, or $225 a share, in cash, a 62% premium to its Friday closing price.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DKNG | DRAFTKINGS | 60.41 | -3.37 | -5.28% |
DraftKings Inc. shares were under pressure after the online casino operator announced a plan to sell 32 million shares to shore up its balance sheet and raise money. Sixteen-million shares will be sold by the company itself and the other 16 million shares will be sold by other shareholders.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PYPL | PAYPAL HOLDINGS INC. | 196.55 | +4.64 | +2.42% |
PayPal Holdings Inc. shares rose nearly 2% after its Venmo unit announced a new Visa-branded credit card. The card offers 3% cash back on certain purchases, as well as personalized rewards and the ability to manage finances.
CLICK HERE TO READ MORE ON FOX BUSINESS
Oil futures were rebounding on Monday as well, up more than 4% to $38.55. Gold ticked down slightly to $1,903.80 an ounce, a loss of 0.2%.
CLICK HERE TO READ MORE ON FOX BUSINESS
Crédito: fuente
Ed Yardeni of Yardeni Research discusses his outlook for the markets.
Stocks rebounded on Monday, as President Donald Trump appeared to respond positively to the treatments his doctors are giving him for COVID-19. Investors are also eager for more developments on stimulus talks.
FOX Business has learned House Speaker Pelosi and U.S. Treasury Secretary Steven Mnuchin will speak again today in efforts to come to a deal.
LIVE Stock Market & Business Updates
All three of the major averages rose at the opening bell, shaking off losses from Friday, with the Dow Jones Industrial Average tacking on over 300 points and the S&P 500 and Nasdaq Composite adding over 1% each.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 28051.11 | +368.30 | +1.33% |
| I:COMP | NASDAQ COMPOSITE INDEX | 11284.931138 | +209.91 | +1.90% |
| SP500 | S&P 500 | 3396.9 | +48.46 | +1.45% |
Trump’s medical team, which is using a number of different drugs, including Gilead Science Inc.’s Remdesivir, a cocktail from Regeneron Pharmaceuticals Inc. and the steroid dexamethasone, said he could be released from the hospital as soon as today.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GILD | GILEAD SCIENCES INC. | 63.76 | +1.59 | +2.56% |
| REGN | REGENERON PHARMACEUTICALS INC. | 604.67 | +39.87 | +7.06% |
TRUMP’S POSITIVE COVID-19 TEST GIVES STOCKS WILD RIDE
Trump, 74, began tweeting Monday morning, highlighting the stock market and retirement accounts.
This followed several videos released over the weekend. Trump also took a short ride from Walter Reed Medical Center in an SUV to thank his supporters, on Sunday afternoon, and tweeted «next year will be the best ever.»
On Saturday, Trump tweeted that lawmakers should «work together» to pass an additional stimulus package.
The ISM Non-Manufacturing Index for September jumped to 57.8, beating estimates of 56.3, as the services sector continued to improve. A level above 50 is considered to reflect expansion.
In corporate news, AMC shares tumbled after Cineworld, parent company of Regal, announced plans to suspend over 500 theatres in the U.S. starting October 8 due citing «challenging theatrical landscape» tied to COVID-19.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT HOLDINGS INC | 4.18 | -0.47 | -10.15% |
In deal-making, drug stocks were in focus.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BMY | BRISTOL-MYERS SQUIBB CO. | 58.87 | +0.18 | +0.31% |
| MYOK | MYOKARDIA INC | 220.33 | +80.73 | +57.83% |
Bristol-Meyers Squibb Co. announced its intention to acquire MyoKardia for $13.1 billion, or $225 a share, in cash, a 62% premium to its Friday closing price.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DKNG | DRAFTKINGS | 60.41 | -3.37 | -5.28% |
DraftKings Inc. shares were under pressure after the online casino operator announced a plan to sell 32 million shares to shore up its balance sheet and raise money. Sixteen-million shares will be sold by the company itself and the other 16 million shares will be sold by other shareholders.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PYPL | PAYPAL HOLDINGS INC. | 196.55 | +4.64 | +2.42% |
PayPal Holdings Inc. shares rose nearly 2% after its Venmo unit announced a new Visa-branded credit card. The card offers 3% cash back on certain purchases, as well as personalized rewards and the ability to manage finances.
CLICK HERE TO READ MORE ON FOX BUSINESS
Oil futures were rebounding on Monday as well, up more than 4% to $38.55. Gold ticked down slightly to $1,903.80 an ounce, a loss of 0.2%.
CLICK HERE TO READ MORE ON FOX BUSINESS
