U.S Indices started the week on a positive note as Stimulus optimism boosted markets. President Donald Trump called on Congress to come together and pass additional Coronavirus-stimulus legislation, before he left hospital after a three- night stay for treatment and promises to hit the campaign trail soon. Speaker of the House Nancy Pelosi said lawmakers were making progress in negotiations on another aid bill. White House Chief of Staff Mark Meadows echoed this later in the morning, saying that U.S. lawmakers continue to negotiate over the next round of relief. Meadows added that there was potential for a deal as long as politics don’t get in the way again. Economic data were also positive. ISM Non-Manufacturing beat estimates in September, in another positive sign for the economic recovery. The NASDAQ 100 led the gains, closing 2.25% higher. The European Union and the U.K. agreed to increase efforts to close the gap on differences in post-Brexit trade agreement negotiations, hoping for a deal by the end of October. Italian Health Minister Roberto Speranza said the government was preparing to introduce new measures to limit social gatherings in an effort to contain the recent Coronavirus resurgence. Euro-Zone Retail Sales rose more than expected in August, signalling that consumer spending continues to accelerate. Euro-Zone Final Services PMI for September came in above the initial reading, indicating the economic recovery is gaining momentum. Elsewhere, Oil surged 6.23%, as strong economic data sparked optimism on the economic recovery, while Gold rose 0.56% on Dollar weakness.
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