Stimulus is expected to boost European stocks and Dow futures

Stimulus is expected to boost European stocks and Dow futures

U.S. President Trump waved from behind a car in a car outside Walter Reed Medical Center in Bethesda, Maryland, on May 4, 2020.

Alex Edelman / Agence France-Presse / Getty Images

U.S. European stocks rallied on Monday on hopes of a last-ditch economic stimulus to the economy ahead of the election, as well as hopes of a clear result on election day.

Stoxx Europe 600 SXXP,
+ 0.59%
The German DAX rose 0.7%, with similar size gains for the DAX.
+ 0.60%,
French CAC 40 PX1,
+ 0.71%
And UK FTSE 100 UKX,
+ 0.66%.
Gainers include steel maker ThyssenKrupp TKA
+ 6.75%
And ArcelorMittal Mt,
+ 1.16%.

Dow Jones Industrial Futures on Industrial Average YM100,
+ 0.51%
Increased 152 points.

Politico reports that House Speaker Nancy Pelosi as well as Treasury Secretary Steven Munchin consulted with Federal Reserve Chair Jerome Powell on negotiating his stimulus plan. It is unclear what the Fed will play, if any. The central bank had a role in the first stimulus scheme. Pelosi said separately in an interview with CBS that airlines should not fire workers, and that assistance would be undone.

In addition to a brief car ride, President Donald Trump spent the weekend at Walter Reed Medical Center, recovering from COVID-19. In or out of the hospital, a recent public opinion poll decides Biden, his decisive, former vice president.

“Financial markets have eased expectations of long-term post-election uncertainty and are now feeling a little anxious about the near and far-reaching election,” Barclays strategists said in a note to consumers. Strategists said Trump’s hospitalization could prove to be a “political trigger” that brings a stimulus deal to the finish line.

On the political front, too, UK Prime Minister Boris Johnson and European Commission President Ursula von der Leyen issued a statement urging their negotiators to “work hard” to reach a trade deal, as Johnson also announced in an interview that he was ready to be released. . Trading block without one.

News on the coronavirus front has been worrying, with Paris strips on the verge of closing, although its restaurants will remain open, and Marseille restaurants are reopening.

Cineworld CNE,
-31.84%
The stock is down 1% as it says it will suspend operations at its 6,536 Regal theaters in the U.S. and its 177 Seanworld and Picturehouse theaters in the UK from Thursday. Cineworld said it was “evaluating several sources of excess liquidity.”

Wire of Wear Group,
+ 17.38%
The stock has risen 16% since Caterpillar agreed to sell its Texas-based oil and gas products business to CAT.
+ 2.20%
5 405 million for cash. Weir also said the deal would help it realize a 70 70 million tax benefit and turn it into a “premium mining technology pure game.”

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