Market Intelligence

What Trump’s COVID-19 Diagnosis Means for Markets

October 2, 2020/in Investing, Reports/by Tom Essaye

What’s in Today’s Report:

What the Trump COVID-19 Diagnosis Means for Markets

Futures are sharply lower following the Trump COVID-19 diagnosis.

President Trump and the First Lady tested positive for COVID-19 on Thursday, and have begin their quarantine process. However, the White House has said it expects the President to continue in his duties as he recovers.

There was minimal economic data overnight.

For the next several days reports of President Trump’s health will drive markets, and obviously if he becomes very sick that will hit stocks in the short term.

Beyond the COVID diagnosis, we still have the jobs report today, and estimates are as follows: Job adds: 894K, UE Rate: 8.2%.

Finally, we also get Consumer Sentiment (E: 79.0) and have two Fed speakers, Harker (9:00 a.m. ET) and Kashkari (1:00 p.m. ET), but none of that should move markets.