Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

What Does Trump’s Covid-Diagnosis Mean For The Markets?

By Spreadex (Connor Campbell)Market OverviewOct 02, 2020 12:21
uk.investing.com/analysis/what-does-trumps-coviddiagnosis-mean-for-the-markets-200447685
What Does Trump’s Covid-Diagnosis Mean For The Markets?
By Spreadex (Connor Campbell)   |  Oct 02, 2020 12:21
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

With little data-guidance on offer, the US election less than one month away and Trump struck down with covid-19, how will the markets fare in the first full week of October?

US
Happy to see the back of a rough and rocky September, the markets are getting closer and closer to November 3rd’s US presidential election. The Dow Jones seemed to wait with baited breath ahead of the first televised debate between Donald Trump and Joe Biden, only to find little to grapple with policy-wise in amongst the chaos and cross-talk.

Well now the race has seen another huge twist, with Donald Trump’s covid-19 diagnosis. He likely won’t make the next debate on October 15th, and will miss scheduled rallies in three swing states, including Florida. Yet at the same time, bar the worst case scenario, Trump coming out the other side of a two-week quarantine able to say he survived covid-19 could be hugely appealing to both his base supporters, and a few undecided voters.

The other major issue is where this leaves the covid-19 spending plan. The Democrat-led House of Representatives passed their own $2.2 trillion package last Thursday, which is meaningless without an agreement being reached between Nancy Pelosi and Treasury Secretary Steven Mnuchin. And with Republicans firmly opposed to the deal, a political lockdown due to Trump’s diagnosis – and all the unmasked people he has come in contact with – could further stall negotiations surrounding the much-needed stimulus.

If they don’t want to focus on Trump’s covid-drama, where else can investors turn their attentions to? From a data-perspective there’s isn’t a lot for markets to chew on. The final Markit and ISM services PMIs arrive on Monday, with the JOLTS Job openings reading on Tuesday, the FOMC meeting minutes on Wednesday, and the usual jobless claims number on Thursday.

We’re also not yet fully into Q3 earnings season, though there are early announcements from the likes of Delta Airlines (NYSE:DAL) and Domino’s Pizza (LON:DOM) on Thursday.

UK
Now firmly in October, Brexit might start to become a significant preoccupation for UK investors once again, as the end of the month is the ostensible deadline for a deal to get done.

There’s also the small matter of a nationwide lockdown, which still can’t be ruled out given the pace of covid-19 cases up and down the country.

In terms of data, there’re the final services PMI on Monday, the construction PMI on Tuesday, and a couple of HPI readings on Wednesday.

Friday is then pretty stuffed, with the monthly GDP figure the highlight. The (hopefully) growth reading is joined by the goods trade balance and industrial and manufacturing production numbers.

Wednesday, meanwhile, sees a half year update from Tesco (LON:TSCO), which may prove to be illustrative to consumers’’ habits in the 2nd in the last few months.

Eurozone
It’s not the most exciting week for Eurozone data, with the region likely more preoccupied with covid-19 numbers than anything else.

If investors do fancy looking elsewhere, there’s the Sentix investor confidence and final services PMIs on Monday; German factory orders on Tuesday; Italian retail sales and French trade balance on Wednesday; German trade balance on Thursday; and French and Italian industrial production on Friday.

"Disclaimer: Spreadex provides an execution only service and the comments above do not constitute (or should not be construed as constituting) investment advice or recommendations, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any person placing trades based on their interpretations of the above comments does so entirely at their own risk. Spreadex Ltd is a financial and sports spread betting and sports fixed odds betting firm, which specialises in the personal service and credit area. Founded in 1999, Spreadex is recognised as one of the longest established spread betting firms in the industry with a strong reputation for its high level of customer service and account management.

In relation to spread betting, Spreadex Ltd is authorised and regulated by the Financial Conduct Authority. Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone, so please ensure you fully understand the risks involved."

Original Post

What Does Trump’s Covid-Diagnosis Mean For The Markets?
 

Related Articles

What Does Trump’s Covid-Diagnosis Mean For The Markets?

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (4)
Helen Stait
Helen Stait Oct 08, 2020 0:07
Saved. See Saved Items.
This comment has already been saved in your Saved Items
All a publicity stunt
Alex Teh KB
Alex Teh KB Oct 06, 2020 13:44
Saved. See Saved Items.
This comment has already been saved in your Saved Items
interesting how He is able to get back on his feet so early whilst other Covid19 patients take ages for recovery
Karsten Nielsen
Karsten Nielsen Oct 04, 2020 16:17
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This is like the best thriller plot, ever🤘
David Martin
David Martin Oct 03, 2020 10:57
Saved. See Saved Items.
This comment has already been saved in your Saved Items
He may not have covid-19 it Could be fake news
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email