Dow climbs 465 points after Trump announces he will leave hospital

A sign for Wall Street hangs outside at the New York Stock Exchange on April 20, 2020. Photo by John Angelillo/UPI

Oct. 5 (UPI) — U.S. markets climbed on Monday after President Donald Trump announced he would be discharged from the hospital in the evening after testing positive for COVID-19 over the weekend.

The Dow Jones Industrial Average climbed 465.83, or 1.68%, while the S&P 500 rose 1.8% and the Nasdaq Composite closed the day up 2.32%.

Stocks shot to their session highs after Trump tweeted that he will be leaving Walter Reed National Military Medical Center, easing concerns among investors about the president’s condition.

Trump tweeted Monday afternoon that he would depart from the hospital in Maryland at 6:30 p.m. after being admitted Friday when his oxygen levels dropped. The president said he was “feeling really good” but his physician Dr. Sean Conley said he “may not entirely be out of the woods yet.”

Stock for Regeneron Pharmaceuticals surged 7.13% after the White House said Trump received an 8-gram dose of its antibody drug cocktail as a precautionary measure.

Companies developing COVID-19 vaccine candidates also benefitted Monday as BioNTech stock soared 9.5%, Novavax stock rose 6.34% and Moderna climbed 4.56%.


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