Pavan Sharma

US stocks jumped, clawing back the decline triggered by Donald Trump’s suspension of stimulus talks, after the US president backed a piecemeal approach to aid and investors took a longer-term view on a spending program.

Global markets were lower on Friday as US stocks experienced a knee-jerk sell-off (S&P 500 Index -0.9%) in reaction to President Trump announcing he has tested positive for covid-19. 

Thursday brought the start of a new quarter, but trading started choppy across the globe as investors focussed on the smoke signals from US stimulus talks as a deal between Republicans and Democrats remains out of reach, government responses to new waves

Energy and Financial sectors were the biggest drag in the session, while travel related companies were also weaker as concerns rose over a possible resurgence in covid-19 cases, as data showed New York City’s rate of positive Covid-19 tests rose above 3%

Investors watched the first US Presidential debate closely yesterday, and after a messy debate it is hard to quantify the impact on markets, although polling in the wake of the debate showed that the odds of Joe Biden winning increased.

This week sees the first 2020 US presidential debate which will be watched closely by investors.

Global markets were higher overnight as US markets (S&P 500 +1.6%) jumped after four weeks of declines and European shares added the most in three months in broad gains for equities.

Global markets were mixed overnight, as US markets were higher (S&P 500 Index +0.3%) on speculation that talks about a new round of economic stimulus will resume amid growing concern over a resurgence in coronavirus cases around the world.