European stocks are seen opening higher on Monday after U.S. President Donald Trump’s medical team suggested that he could be discharged from the hospital as early as today.
“It’s been a very interesting journey. I learned a lot about COVID,” Trump said, standing in his hospital room in a video posted on social media. “I learned it by really going to school.” He added, “I get it, and I understand it.”
Markets may also see some support coming in from heightened expectations that America will pass a new stimulus bill sooner rather than later. Trump tweeted over the weekend that the U.S. “wants and needs stimulus”.
Asian markets rose broadly and the dollar slipped while oil prices rose about 2 percent on easing concerns about Trump’s health.
The British pound fluctuated as U.K. Prime Minister Boris Johnson and European Commission President Ursula von der Leyen agreed the importance of finding a post-Brexit trade deal.
Final Purchasing Managers’ survey results, investor confidence and retail sales data from euro area are due later in the session, headlining a busy day for the European economic news.
Across the Atlantic, reports on service sector activity and the U.S. trade deficit may attract some attention this week along with the minutes of the latest Federal Reserve meeting.
U.S. stocks ended firmly in the red on Friday after President Trump and First Lady Melania Trump tested positive for the coronavirus and data showed U.S. job growth slowed by much more than anticipated in September, adding to mounting uncertainties surrounding the looming presidential election.
U.S. non-farm payroll employment rose by 661,000 jobs in September, while economists had expected employment to increase by 850,000 jobs.
The Dow dipped half a percent, the tech-heavy Nasdaq Composite lost 2.2 percent and the S&P 500 shed 1 percent.
European markets recovered from an early slide to end mixed on Friday as weaker than expected economic data from U.S. and Europe raised expectations that central banks will announce more stimulus sooner than later.
The pan European Stoxx 600 gained 0.3 percent. The German DAX dropped 0.3 percent, while France’s CAC 40 index edged up marginally and the U.K.’s FTSE 100 rose 0.4 percent.
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