TOKYO (Reuters) – Stock markets rose on Monday on hopes that President Donald Trump could be discharged from hospital later in the day, easing some of the political uncertainty that shook global bourses in the previous session.

FILE PHOTO: People are reflected on a glass in front of a large screen showing stock prices at the Tokyo Stock Exchange after market opens in Tokyo, Japan October 2, 2020. REUTERS/Kim Kyung-Hoon/File photo

Trump, 74, was flown to hospital for treatment for the coronavirus on Friday, but his doctors say he has responded well and could return to the White House on Monday.

That helped U.S. S&P 500 e-mini futures rise 0.82% in Asian trading, while Nasdaq futures gained 1.11%.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.63%.

Australian stocks jumped 2.37% for the biggest daily gain in almost two weeks. Japan’s Nikkei rose 1.39%. China’s financial markets are closed for a public holiday.

“Equities and other risk-on traders should be well supported by easing concerns about Trump’s health,” said Junichi Ishikawa, senior currency strategist at IG Securities in Tokyo.

“For the dollar, the impact is not quite as clear cut. It should fall against most currencies due to an increase in risk appetite, but the yen is also weak, and that’s the one currency the dollar can rise against.”

The dollar edged higher against the yen but fell slightly against the Swiss franc as traders jockeyed for position ahead of what could be a volatile day in global markets.

Treasury yields rose slightly on reduced demand for the safety of holding government debt.

Doctors treating Trump say they are pleased with his progress. Relief about his health could fuel a rally in equities and other risky assets as investors prepare for the run-up to next month’s U.S. presidential election.

Video: Stocks slide after Trump diagnosed with coronavirus (Reuters)

Stocks slide after Trump diagnosed with coronavirus

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By Stanley White



text, whiteboard: FILE PHOTO: Passersby wearing protective masks stand in front of an electronic board showing Japan's Nikkei average outside a brokerage, in Tokyo


© Reuters/ISSEI KATO
FILE PHOTO: Passersby wearing protective masks stand in front of an electronic board showing Japan’s Nikkei average outside a brokerage, in Tokyo

TOKYO (Reuters) – Stock markets rose on Monday on hopes that President Donald Trump could be discharged from hospital later in the day, easing some of the political uncertainty that shook global bourses in the previous session.

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Trump, 74, was flown to hospital for treatment for the coronavirus on Friday, but his doctors say he has responded well and could return to the White House on Monday.

That helped U.S. S&P 500 e-mini futures rise 0.82% in Asian trading, while Nasdaq futures gained 1.11%.

MSCI’s broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> rose 0.63%.

Australian stocks <.axjo> jumped 2.37% for the biggest daily gain in almost two weeks. Japan’s Nikkei <.n225> rose 1.39%. China’s financial markets are closed for a public holiday.

“Equities and other risk-on traders should be well supported by easing concerns about Trump’s health,” said Junichi Ishikawa, senior currency strategist at IG Securities in Tokyo.

“For the dollar, the impact is not quite as clear cut. It should fall against most currencies due to an increase in risk appetite, but the yen is also weak, and that’s the one currency the dollar can rise against.”

The dollar edged higher against the yen but fell slightly against the Swiss franc as traders jockeyed for position ahead of what could be a volatile day in global markets.

Treasury yields rose slightly on reduced demand for the safety of holding government debt.

Doctors treating Trump say they are pleased with his progress. Relief about his health could fuel a rally in

(Bloomberg) — Volatility eased in U.S. equity futures as optimism over President Donald Trump’s medical prognosis and hopes for fresh economic stimulus put a brake on selling that whipped up Friday.

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Dip buyers showed up at the 6 p.m. New York open, bidding up December contracts after Trump’s doctors insisted he’s doing well and could be discharged as soon as Monday. Markets fell on Friday after Trump’s diagnosis. They remained up for the week as some traders speculated the president’s illness raised the odds for aid to the economy from Congress and data showed job gains slowed in September and many Americans quit looking for work.

“The dramatic turn of events may be a catalyst for a stimulus agreement – or it may not; we wait for bills to be put to Congress and votes to be taken,” said Julian Emanuel, chief equity strategist for BTIG, wrote in a note. “With key economic data extending its run of disappointments versus expectations and high-profile corporate layoffs, additional aid would seem imperative.”



chart: Stock futures gain Sunday evening


© Bloomberg
Stock futures gain Sunday evening

U.S. shares have stayed relatively resilient since Trump’s positive test, in part because of speculation Congress will move toward an aid package after large parts of the current bill expired at the end of July. While the president urged lawmakers to get stimulus passed in a weekend tweet, little new progress was reported since Friday.

Futures on the S&P 500 gained 0.7% at 8:41 p.m. in New York. The underlying gauge rose 1.5% last week, though Friday saw a 1% selloff. Contracts on the Dow Jones Industrial Average added 0.7%, while Nasdaq 100 futures climbed 1%.

The yen fell against all Group-of-10 currencies as traders shunned haven assets. It dropped 0.3% against the dollar to 105.55 yen. Risk assets including the

In the nearly six years since Greg Abbott has been governor of Texas, the Lone Star State has been the number one destination for U.S. businesses looking to relocate.

That includes California businesses. In 2018 and 2019, as many as 660 California-based companies pulled their stakes up and moved to greener pastures in Texas, where the cost of doing business is roughly 10 percent below the national average.

Next up is Tesla. The electric vehicle (EV) company is currently in the process of building its fourth factory in the Texas capital of Austin, a growing tech hub with a young, highly educated population.

A city in Texas may also be named headquarters to TikTok, the popular video-sharing app whose fate is still in limbo after Oracle and Walmart struck a deal to jointly buy the U.S. service from TikTok’s Chinese parent company, ByteDance. This could bring as many as 25,000 high-paying jobs to the Lone Star State, according to President Donald Trump, who favors Texas as the app’s HQ.

Gov. Abbott touched on jobs, the economy and more during a Young Presidents’ Organization (YPO) event I had the pleasure of attending last week just outside San Antonio. He pointed out that the Texas GDP, at $1.9 trillion, is bigger than the economies of Canada, Brazil and Russia.

“We’re bigger than Putin,” the governor quipped, eliciting laughter.

Abbott also briefly addressed the recent protests across the nation, some of which have unfortunately turned violent. Texas would always support people’s First Amendment right to peacefully protest, he stressed, but the moment a demonstration resorts to rioting and looting, it is no longer protected by the Constitution.

I recently shared with you that the multi-city riots between May and June alone are now estimated to be the costliest civil disorders in U.S. history,