Trump Criticised Over Messy Debate

It's been another week of headlines for President Trump. Trump came under fire following the first debate on Tuesday which many have called the most chaotic and ill-tempered presidential debate in living memory. In Trump’s typically aggressive and dogmatic style he was seen constantly interrupting his opponent and ignoring the structure of the debate to speak at will and often go off on long, hard-to-follow rants. Trump was criticised again for his personal attacks on Biden, which echoed the debates held with Hilary Clinton during his first election campaign and skirted around answering any serious policy questions.

Forced To Condemn White Supremacists

One of the more controversial aspects of the debate was Trump’s refusal to condemn white supremacists, merely saying “Proud Boys, stand back and stand by”. The far-right group has since celebrated the president’s message which they took as an endorsement. Following white spread criticism over his lack of condemnation Trump was since forced to formally condemn white supremacists during an interview with Fox News on Thursday. Trump told the interviewer: "I've said it many times, let me be clear again, I condemn the KKK. I condemn all white supremacists. I condemn the Proud Boys. I don't know much about the Proud Boys, almost nothing, but I condemn that."

Trump Opposes Debate Rules Change

Following the chaotic debate on Tuesday, the presidential debates commission announced that it was looking into changing the rules of the debate to foster a “more orderly discussion” at the next event, dues to take place in Miami on October 15th. However, Trump has outlined his opposition to any changes, saying: “Why would I allow the debate commission to change the rules for the second and third debates when I easily won last time?”. Biden’s team have confirmed he will abide by any changes in the rules of the debate with his campaign spokesman Andrew Bates saying: “The only real question left is whether the President will start following the rules in the next two debates.”

Trump Tests Positive for COVID

Finally, Trump announced late on Thursday night that both himself and the First Lady, his wife, Melania have tested positive for COVID-19. The president got tested following news that Hope Hicks, one of his closest aides, had tested positive for the virus. Trump will now enter a two-week quarantine and recovery period. Given his age there is a high level of concern over Trump’s recovery chances and traders and voters alike will be keeping a close eye on updates. The next debate is scheduled for October 15th and has not been altered at this stage, though this could change dependent on the president’s recovery.

Technical Views

S&P500 (Bullish above 3226.50)

From a technical viewpoint. The S&P500 has been a little lower on Friday following news of Trump’s COVID diagnosis. Price ran into resistance once again at the 3391.75 level following the rebound off the 3226.50 level support. While this level remains in place, the near term view remains bullish.

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