Trump’s Health, Stimulus Package Are Main Focus of Markets In Coming Week

President Donald Trump's health and the outcome of a second stimulus package will be the main focus for markets in the coming week.

Following the announcement of the state of Trump's health in the early hours of Friday, October 2, the U.S. stock markets slumped.

It, however, gained around midday following the announcement of House Speaker Nancy Pelosi that financial aid for airlines is imminent.

Julian Emanuel, who heads equities and derivatives at BTIG, said that the market would be watching for Trump's health updates from the medical staff of the White House.

He said that they would be watching how he will be communicating with the public in the coming days. Will he be seen in person, will he be tweeting as much, all of these will be taken into consideration as a way to gauge how severe is Trump's health affected by the COVID-19 infection.

President Trump has been transferred to the Walter Reed National Military Medical Center from the White House on Friday, where he will be receiving treatment, according to his physician.

As part of Trump's health treatment, he was given a single dose of an experimental antibody drug to boost his immune system before he left the White House.

At the military hospital, he was started on a 5-day course of the antiviral medication Remdesivir which has worked in speeding up a person's recovery from a COVID-19 infection.

In a press conference held to give an update on Trump's health, Conley said that the president's symptoms include cough and nasal congestion from which he is improving and that he has been fever-free for 24 hours already.

He had also addressed the public twice since his transfer to the hospital. He has posted a brief video on Twitter where he thanked his supporters and assured the people that he is doing well.

He also tweeted urging the Congress to work together and already pass a COVID-19 stimulus package as the country wants and needs it.

In time, the markets will also watch how Trump's health will impact the November 3 presidential election.

While the market has started to warm to Democrat presidential candidate Joe Biden, President Trump is still widely seen on the Wall Street as better for markets and stronger on the economy.

According to Emanuel, Trump's health as of the moment could take away confidence and slow down some of the improvements on the economy.

Aside from Trump's health, the markets will also be closely watching the progress of a second COVID-19 stimulus package.

The market is immersed on the stimulus aiding businesses as well as helping the unemployed and state and local governments.

Airline shares had slightly gone up when Pelosi asked to stall the furloughing of some 40,000 airline workers as a federal grant will be imminent.

The House Speaker had assured that they could either pass a standalone bill for the airlines or as part of the second COVID-19 stimulus package.

On Tuesday, October 6, Fed Chairman Jerome Powell will be giving a speech to the National Association of Business Economists wherein he is expected to also push for a second COVID-19 stimulus package to be passed.

Check these out:

Trump's Doctors Hold Press Conference To Give A Brief On President's COVID-19 Fight

Trump Wants COVID-19 Stimulus Package Passed Already, Urges Congress To Work Together

Pelosi Wants to Stall Furloughs of 40,000 Airlines Workers, Assures Additional Aid