US stocks rise in pre-market amid Trump Covid-19 uncertainty

NEW YORK: Wall Street futures climbed in pre-market trading on Monday, with investors seemingly unperturbed by US President Donald Trump’s hospitalisation after announcing he’d tested positive for coronavirus last week.

About an hour before trading was to begin, the benchmark Dow Jones Industrial Average was up 0.7% at 27,769.00.

The broad-based S&P 500 had risen 0.6% at 3,360.50, while the tech-rich Nasdaq had climbed 0.7% to 11,313.75.

Trump announced his Covid-19 diagnosis on Friday, and markets closed lower, rattled by that news as well as a weak September US employment report.

After the close, Trump was flown to the Walter Reed military medical centre near Washington, where he spent the weekend for treatment but released videos and photos of himself as well as made a drive-by appearance to supporters gathered outside the facility.

Among individual companies, MyoKardia, which specialises in the treatment of cardiovascular ailments, shot up 58.2% after pharmaceutical giant Bristol Myers Squibb announced plans to purchase the firm for US$13.1 billion.