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Doctors to weigh if Trump can leave hospital Monday – Trump aide
Regeneron jumps as Trump takes dose of its dual antibody
MyoKardia surges on takeover deal with Bristol-Myers
Service sector activity rises above pre-pandemic level
Indexes up: Dow 1.31%, S&P 1.42%, Nasdaq 1.86%
Updates to early afternoon
By Devik Jain and Sagarika Jaisinghani
Oct 5 (Reuters) – Wall Street jumped on Monday as hopes of more fiscal stimulus helped the three main indexes recover from a sharp fall in the previous session, while investors awaited updates on the severity of President Donald Trump’s COVID-19 symptoms.
Doctors at Walter Reed National Military Medical Center are treating Trump with a steroid that is normally used only in the most severe cases. Still, White House Chief of Staff Mark Meadows said Trump’s medical team will weigh whether he can leave the hospital later in the day.
Ten of the 11 major S&P indexes were up, with energy .SPNY, the worst performing sector this year, rising 1.8%. Materials .SPLRCM and information technology .SPLRCT were also among the biggest gainers on the day.
Shares of Regeneron Pharmaceuticals Inc REGN.O jumped 7.1% after Trump’s physician said he had been treated with an intravenous dose of Regeneron’s dual antibody treatment. The wider healthcare index .SPXHC added 1.8%.
“One of his treatments was an experimental drug from Regeneron (and) that’s showing that this could be a major component to treatments moving forward for people,” said Thomas Hayes, chairman at Great Hill Capital LLC in New York.
Doubts about the scale of further fiscal aid and a slowing economic recovery have weighed on the S&P 500 recently, with the benchmark index in September logging its