U.S Equity Markets opened higher after Food and Drug Administration Commissioner Stephen Hahn said he would be willing to fast-track approval of a COVID-19 vaccine before Phase III trials are complete if the rewards outweigh the risks. But former FDA commissioner Scott Gottlieb threw cold water on vaccine hopes, saying an approved vaccine was unlikely before the election in November. And the World Health Organisation warned that no country was out of the woods just yet. There were also positives, as the Dallas Fed Manufacturing Index beat estimates and returned to “Expansion” territory. The S&P had is first down-day since August 11, but only marginal at -0.23%. White House Aides said President Donald Trump would be willing to sign a $1.3 trillion Coronavirus-stimulus bill, indicating it may be moving closer to a deal with the Democrats. In a volatile trading session, the big mover was the VIX, surging 15% to close at 26.4. In Europe, Italy’s preliminary Consumer Price Index data for August were weaker than expected, falling versus July and signalling the rebound in the Euro-Zone’s third-largest economy may be slowing. Spanish Economy Minister Nadia Calvino said the economy is growing at a rate above 10% so far in the Third Quarter. French Finance Minister Bruno Le Maire said that no businesses will be left behind in the country’s next stimulus package. Mining and utilities companies rallied as copper prices continued to march higher and Veolia Environment sought a stake in and possible merger with rival Suez. Overnight the Euro rose and is testing $1.20 as I go to press. The weak Dollar saw both Gold and Silver close higher. Elsewhere, Oil fell as energy companies in the Gulf of Mexico began to restart production after Hurricane Laura.
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