Stocks jump as Trump prepares to return to White House

Stock markets on Monday closed up, adding to earlier gains after President Trump announced that he would be discharged from Walter Reed hospital later in the day.

The Dow Jones Industrial Average jumped 466 points, or 1.7 percent, and the S&P 500 increased 60 points, or 1.8 percent. The tech-heavy NASDAQ performed even better, with a 257-point increase, or 2.3 percent.

Trump, who announced Friday that he has COVID-19, said he’d return to the White House, where he will continue to receive medical attention from a full team of medical professionals.

Trump’s apparent eagerness to downplay the severity of the virus raised questions as to what led to the decision. His tweet announcing his discharge urged people not to be “afraid” of the virus that has killed more than 210,000 Americans, and comes a day after he drew criticism for taking a drive to wave to supporters outside the hospital instead of staying isolated.

White House physician Sean Conley told reporters that Trump may still not be “out of the woods,” and refused to confirm whether the president had pneumonia as a result of the infection.

At the same time, hopes increased for the chances of agreement on another round of COVID-19 economic relief, though Republicans and Democrats remain hundreds of billions of dollars apart in negotiations.