TOKYO – The dollar inched up in early Monday trade as riskier currencies slipped after negotiation on a U.S. stimulus package ran into resistance and as the yuan dropped after China’s central bank took a measure seen as aimed at curbing its strength.

The euro slipped 0.15% to $1.1818 EUR= while the Australian dollar shed 0.25% to $0.7223 AUD=D4.

The yen was little changed at 105.65 to the dollar JPY=.

WHY EVERY ONE OF YOUR DOLLARS DURING CORONAVIRUS NEEDS A NAME: DAVE RAMSEY

The U.S. dollar index edged up to 93.104 =USD, bouncing back from Friday’s near-three-week low of 92.997. The index saw its biggest loss in six weeks on Friday on hopes that a deal for new U.S. stimulus would be reached.

President Donald Trump on Friday offered a $1.8 trillion coronavirus relief package in talks with House Speaker Nancy Pelosi – moving closer to Pelosi’s $2.2 trillion proposal.

But Trump’s offer drew criticism from several Senate Republicans, many of whom are uneasy about the nation’s growing debt and concerned a deal would cost Republicans support in the upcoming presidential election, denting the risk-on mood.

The dollar inched up in early Monday trade as riskier currencies slipped after negotiation on a U.S. stimulus package ran into resistance and as the yuan dropped after China’s central bank took a measure seen as aimed at curbing its strength. (iStock


Still, with Nov. 3 election only weeks away, investors bet that Democrat Joe Biden is more likely to win the U.S. presidency and offer a larger economic package.

“On the whole, the big picture has not changed that much,” said Kyosuke Suzuki, director of forex at Societe Generale.

The offshore Chinese yuan dropped after the People’s Bank of

Stocks finished higher after President Donald Trump said he’d be leaving the hospital Monday, and on optimism over a coronavirus-relief package.

The Dow Jones Industrial Average finished up 465 points, or 1.68%, to 28,148, the S&P 500 climbed 1.8% and the Nasdaq rose 2.32%.

Leading the Dow higher were Amgen  (AMGN) – Get Report and Travelers  (TRV) – Get Report.

The president spent the weekend at Walter Reed Medical Center, recovering from Covid-19. 

While Trump’s medical team was positive about his prognosis, some observers questioned the official details of Trump’s health. Trump’s blood oxygen level had dropped twice in recent days, and doctors had given him a steroid to treat his symptoms.

But in a tweet Monday, the president said he was “feeling really good” and would be leaving the hospital at 6:30 p.m. ET.

Trump tweeted from the hospital over the weekend that “OUR GREAT USA WANTS & NEEDS STIMULUS.”

“WORK TOGETHER AND GET IT DONE. Thank you!” he added.

Renewed hopes for stimulus talks between House Democrats and the White House also were giving stocks a boost.

House Speaker Nancy Pelosi said Friday that Trump’s diagnosis “kind of changes the dynamic” of the stimulus discussions.

Asked Sunday whether the tweet from Trump meant a coronavirus relief package was near, Pelosi responded, “No, it means that we want to see that they can agree on what we need to do to crush the virus.”

“We are encouraging clients to remain invested as additional fiscal stimulus should provide continued support for equity markets,” said Frank Panayotou, managing director at UBS Private Wealth Management. 

Even with the major stock indices close to all-time highs again, we remain constructive on equity markets given the extraordinarily supportive global monetary and fiscal policy.”

Stocks ended lower Friday after

SINGAPORE – Oil prices rose about 2% on Monday, lifted by comments from doctors for U.S. President Donald Trump suggesting he could be discharged from hospital as soon as Monday, just a few days after his positive test for COVID-19 sparked widespread alarm.

Trump’s health update eased political uncertainty in global markets, pushing Brent up to $39.96 a barrel by 0232 GMT, gaining 69 cents or 1.8%. U.S. West Texas Intermediate (WTI) crude was at $37.81 a barrel, up 76 cents, or 2.1%.

Prices had slumped more than 4% on Friday amid uncertainty surrounding Trump’s health, adding to concern that rising coronavirus case numbers that could dampen global economic recovery.

AMERICAN OIL REFINERIES RACE TO PRODUCE RENEWABLE DIESEL AHEAD OF CANADIAN COMPETITION: REPORT

But analysts said Monday’s rebound was driven by an easing of the worst fears about Trump’s health condition, albeit clouded by some mixed signals.

“I think it’s the improving health of the U.S. President … over the weekend there were a lot of conflicting reports on his health, but generally he’s improving,” said Avtar Sandu, senior commodities manager at Phillip Futures.

Oil prices rose about 2% on Monday, lifted by comments from doctors for U.S. President Donald Trump suggesting he could be discharged from hospital as soon as Monday. (iStock)

“He could be back to work soon,” Sandu said, adding that investors were worried about the stalled U.S. fiscal stimulus plan which could aid oil demand recovery.

Prices were also supported by an expanding workers’ strike in Norway on Monday that could reduce the country’s production capacity by as much as 330,000 barrels of oil equivalent per day (boepd) or 8% of its total output, according to the Norwegian Oil and Gas Association.

These



chart: top stock trades for NIO


© Source: Chart courtesy of StockCharts.com
top stock trades for NIO

A poor jobs report and news that President Donald Trump has tested positive for Covid-19 weighed on the stock market on Friday. With that in mind, let’s get to some top stock trades in the meantime. 

Top Stock Trades for Monday No. 1: Nio (NIO)




chart: top stock trades for NIO


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top stock trades for NIO

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Nio (NYSE:NIO) reported solid third-quarter delivery results on Friday, but you wouldn’t know it by the stock’s reaction. Same with Tesla (NASDAQ:TSLA).

However, unlike Tesla, Nio stock isn’t wavering as much. In fact, the stock is holding up near its prior breakout level.

In late August and early September, Nio stock was rejected by the $21 level. It didn’t help that the company raised additional funds and the stock market took a solid dip (as did Tesla).

However, Nio never broke stride, as uptrend support continued to hold (blue line). This week, shares were able to breakout over $21 and hit the 161.8% extension (for the entire range).

Let’s see if the stock can continue to hold up over the 10-day moving average. If it can, it will keep bulls looking for a move over $22.59, the current all-time high. Above that could trigger a rally to the two-times range extension all the way up near $26.40.

On the downside, a break of the 10-day moving average puts uptrend support and the 50-day moving average in play.

Top Stock Trades for Monday No. 2: Bed Bath & Beyond (BBBY)




chart: top stock trades for BBBY


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top stock trades for BBBY

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Source: Chart courtesy of StockCharts.com

Earlier this week, Bed Bath & Beyond (NASDAQ:BBBY) reported a much better-than-expected earnings result. Now, shares are ramping higher on



a close up of a hand: Here's Why Endurance International Stock Went Up 18% on Monday


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Here’s Why Endurance International Stock Went Up 18% on Monday

What happened

Web-hosting company Endurance International Group (NASDAQ: EIGI) is thinking about selling itself to another player, and that sent shares higher on Monday. The stock has lost over 50% of its value over the past five years, showing its long-term struggles. But investors celebrated the rumored sale by sending the stock 18% higher for the session. 

So what

According to a Bloomberg report citing anonymous insiders, Endurance International is open to the idea of being acquired, two years after considering it the first time. The company owns well-known brands like Bluehost and HostGator, platforms enabling its users to develop a web presence. However, it hasn’t been able to monetize its properties of late.



a close up of a hand: A businessman draws an upward arrow over a stock chart displayed on a transparent touchscreen.


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A businessman draws an upward arrow over a stock chart displayed on a transparent touchscreen.

Full-year revenue declined for Endurance International in both 2018 and 2019. More recently in the second quarter of 2020, revenue fell 2% year over year to $274 million. But declining revenue aside, the company could hold value for a larger player. Consider Endurance International has 4.9 million subscribers and added almost 100,000 in Q2. 

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Now what

Unfortunately, since this is an unconfirmed rumor, today’s news isn’t actionable for Endurance International shareholders. If it’s true the technology company is to be acquired, we can’t yet say if that’s good or bad. After all, we have no idea how much of a premium another company would be willing to pay. Conversely, if the acquisition rumor is false, then nothing changes for investors. 

Best to approach Endurance International stock under the assumption it remains an independent, publicly traded company. If it gets bought out, that could create upside. But if it doesn’t, at