5 things to know before the stock market opens Monday
Dow futures were pointing to an over 200-point gain at Monday's open as Wall Street considers what President Donald Trump's Covid-19 diagnosis means 29 days before the election and for difficult talks over additional coronavirus economic stimulus. The Dow Jones Industrial Average dropped nearly 0.5% on Friday, though way off the lows of the session following Trump's overnight tweet announcing his positive status. The S&P 500 fell nearly 1% and the Nasdaq sank 2.2% as Friday's slide in tech stocks took at greater toll on those indexes. Despite Friday's weakness, all three stock benchmarks were higher on the week.
2. Trump could be discharged Monday after a weekend at Walter Reed
White House physicians said Trump may be released from Walter Reed National Military Medical Center on Monday following disclosures about treatment protocols and confusing accounts over how he's doing. On Sunday, the president briefly ventured outside Walter Reed in a motorcade to greet cheering supporters, a move doctors condemned for disregarding precautions designed to contain coronavirus spread. Trump, 74, released a series of videos over the weekend to try to reassure voters. He also resumed tweeting — and in one post, called on Democrats and Republicans on Capitol Hill to work together to pass another new Covid-19 economic relief package. Trump also tweeted a prediction Monday morning that the stock market was getting ready to break its all-time high. He encouraged supporters to vote.
3. President given three treatments for Covid-19
Over the weekend, Trump's doctors revealed the president experienced two drops in his oxygen levels, on Friday and Saturday, but has since improved. Doctors said Sunday the president began treatment with dexamethasone, a steroid that has shown promise for critically ill patients but may cause harm to those with less severe cases. Since his diagnosis, Trump was also treated with Gilead Sciences' anitiviral drug remdesivir, which has been approved for emergency use, and an experimental antibody cocktail from Regeneron Pharmaceuticals. Gilead and Regeneron shares were higher in Monday's premarket.
4. Biden gets bump in polls after debate and before Trump diagnosis
In a NBC News/Wall Street Journal poll, taken after Tuesday's debate but before Trump announced his positive Covid-19 test, Democratic presidential nominee Joe Biden jumped out to a 14-point lead in the race. Survey respondents also favored Biden on the question of who would better handle making appointments to the Supreme Court, which opens its new term Monday.
Despite three GOP senators testing positive for coronavirus, Republican leaders continued to vow to push forward quickly with confirmation hearings on conservative federal appellate judge Amy Coney Barrett, the president's nominee to replace the late liberal Justice Ruth Bader Ginsburg. Democrats used the positive tests to bolster their calls to fill Ginsburg's seat after the Nov. 3 election.
5. Nine ZIP codes in New York City may shut down after coronavirus spikes
New York City's Democratic mayor has asked the state for permission to close schools and reinstate restrictions on nonessential businesses in several neighborhoods because of a resurgence of the coronavirus. If approved, shutdowns would start Wednesday in nine ZIP codes in the city, Mayor Bill de Blasio said Sunday. Over the past two weeks, the number of new cases has been rising in pockets of the city, largely in neighborhoods in Brooklyn and Queens, which are home to the city's large Orthodox Jewish population. Officials were warning weeks ago that gatherings during the Jewish high holidays could spark more infections.
— The Associated Press contributed to this report. Follow all the developments on Wall Street in real-time with CNBC's live markets blog. Get the latest on the pandemic with our coronavirus blog.
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