Stock markets opened up early Monday, reversing their losses from Friday after President TrumpDonald John TrumpQuestions remain unanswered as White House casts upbeat outlook on Trump’s COVID-19 fight White House staffers get email saying to stay home if they experience coronavirus symptoms White House says ‘appropriate precautions’ were taken for Trump’s outing to see supporters MORE was diagnosed with COVID-19.
The Dow Jones Industrial Average opened up 250 points, or 0.9 percent, and the S&P 500 was up 30 points or 0.9 percent.
Stock futures were already headed for a higher open when White House chief of staff Mark MeadowsMark Randall MeadowsWhite House Correspondents’ Association: ‘Outrageous’ for Trump to leave hospital without informing pool Trump sought to keep COVID-19 diagnosis secret Thursday as he awaited second test result: WSJ Photo of Mark Meadows rubbing his head during update on Trump’s health goes viral MORE told Fox News that Trump and his team would decide whether to discharge the president from Walter Reed Medical Center later Monday. Trump’s physician indicated over the weekend that the president could be released as soon as Monday.
The optimism in the markets also comes as both Trump and Meadows have pushed publicly for a deal with Democrats on a new COVID-19 relief bill, which would inject upwards of $1 trillion into the economy.
Democrats and Republicans remain hundreds of billions of dollars apart in their offers.