The stock market’s volatility is on full display as President Donald Trump remains hospitalized. One sign that the upcoming week will start with relative financial calm is the fact that stock futures rose more than 100 points Sunday, following reports that the president continued to improve over the weekend in his battle against COVID-19.
Stock futures rose more than 100 points Sunday after reports that President Trump could be discharged from the hospital as early as Monday.
“It’s a sigh of relief regarding the health of President Trump,” Ryan Detrick, chief market strategist for LPL Financial, was quoted as saying in USA Today.
Specifically, Dow Jones Industrial Average futures were up about 140 points, while Standard & Poor’s 500 futures rose about 17 points early Sunday evening. Futures trading attempts to predict how the market will react when trading opens the following day.
Trump had the economy on his mind even from his hospital room in Maryland, tweeting this on Saturday:
“OUR GREAT USA WANTS & NEEDS STIMULUS. WORK TOGETHER AND GET IT DONE. Thank you!”
The market reacts to uncertainty, and one concern for analysts would be a prolonged illness for Trump that could somehow delay the election and play into a scenario in which Vice President Mike Pence would be elevated to the presidency.