Christopher Bedford, a senior editor at the Federalist, says Vermont Independent Senator Bernie Sanders’ ability to win the Democratic presidential nomination is still possible even if socialist policies aren’t favored in rust-belt states.
U.S. equity markets reversed early losses Monday as traders digested the details of President Trump’s budget and as the coronavirus continued to spread.
Continue Reading Below
The early gains helped win back some of the weakness that occurred following Friday’s blowout jobs report, which pushed the major averages off their record highs.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SP500 | S&P 500 | 3334.41 | +6.70 | +0.20% |
| I:DJI | DOW JONES AVERAGES | 29176.47 | +73.96 | +0.25% |
| I:COMP | NASDAQ COMPOSITE INDEX | 9555.491128 | +34.98 | +0.37% |
Trump’s $4.8 trillion fiscal 2021 budget, which will officially be released Monday morning, runs a $1 trillion deficit, but would lead to a balanced budget in 15 years so long as the economy remains healthy, a senior administration official told FOX Business.
Meanwhile, the coronavirus death toll has risen to at least 910 and more than 40,600 people have been infected globally, according to the latest figures released Monday.
Looking at stocks, Tesla shares surged after a Shanghai government official said over the weekend that the company could resume production at its China Gigafactory.
L Brands soared following a CNBC report indicating the company is nearing a deal to sell its Victoria’s Secret lingerie brand to the private equity firm Sycamore Partners.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 782.62 | +34.55 | +4.62% |
| LB | L BRANDS INC. | 24.06 | +0.48 | +2.04% |
Xerox raised its bid for HP to $24 a share. The offer consists of $18.40 in cash and 0.149 Xerox shares for each HP share.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| XRX | XEROX HOLDINGS | 37.74 | +0.57 | +1.53% |
| HP | HELMERICH & PAYNE INC | 42.83 | +0.18 | +0.42% |
Elsewhere, Allergan reported adjusted earnings and revenue that topped Wall Street estimates as its fourth-quarter loss narrowed from the prior year.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AGN | ALLERGAN PLC | 199.95 | +2.90 | +1.47% |
On the commodities front, West Texas Intermediate crude oil was down 0.1 percent near $50.30 a barrel and gold was up 0.1 percent at $1,575 an ounce.
U.S. Treasurys were little changed with the yield on the 10-year note holding near 1.575 percent.
In Europe, France’s CAC fell 0.4 percent while Germany’s DAX and Britain’s FTSE were down 0.3 percent and 0.2 percent, respectively.
Asian markets finished mixed with China’s Shanghai Composite gaining 0.5 percent while both Hong Kong’s Hang Seng and Japan’s Nikkei fell 0.6 percent.
CLICK HERE TO READ MORE ON FOX BUSINESS
FOX Business’ Evie Fordham contributed to this report.
