U.S Indices had a strong start to the week, following the lead from European Markets which surged after Italy and France both reported slowdowns in the number of daily Coronavirus infections as the French Health Minister rejected the idea of new economic lockdown measures. The British government was said to be preparing lockdown measures across the northern part of the country and possibly London, closing pubs, bars, and restaurants for at least two weeks. European Union and U.K. negotiators are scheduled to begin their final round of post-Brexit trade deal talks today in Brussels. The ECB’s Pablo Hernandez de Cos said the central bank should maintain its extensive stimulus, and should not hesitate if more is needed. Equity Markets followed Friday’s move higher with more gains. After sharply selling off early last week (and entering a correction on an intraday basis), markets have seemingly resumed their march higher. Stimulus optimism rose again, after Speaker of the House Nancy Pelosi (D-CA) said Coronavirus stimulus negotiations are ongoing with Treasury Secretary Steven Mnuchin and she is hopeful the two can strike a deal. In terms of economic data, the Dallas Federal Reserve Manufacturing survey rose above estimates in September, marking the fourth straight month of increases, as it reached the highest level in nearly two years. The Food and Drug Administration (“FDA”) halted Inovio’s (INO) Coronavirus vaccine trial until the drug company answered additional questions. But Inovio said the halt was not due to any adverse effects from the vaccine. Elsewhere, Gold closed 1% higher while Oil rebounded 0.77% on Dollar weakness.
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