The S&P 500 rose 1.8 percent on Monday after US President Donald Trump said he would be discharged from the hospital in the evening.
Sure enough, the President returned to the White House that evening, where he was criticised for “an irresponsible mask removal and a reckless pronouncement there is nothing to fear from Covid-19”.
Still, CNBC’s Jim Cramer said that the stock market rally reflects “hope on talks between Secretary Mnuchin and Speaker Pelosi” producing an agreement on fiscal stimulus.
In addition, with former vice president Joe Biden opening his widest lead in a month in the presidential race, Ajay Rajadhyaksha, head of macro research at Barclays, said that markets “have lowered the chance of prolonged uncertainty” following the presidential election.
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