New COVID-19 and stimulus investment wildcards with Trump hospitalized

• The Latest: President Donald Trump is being treated with antiviral drug, Gilead's (NASDAQ:GILD) remdesivir, at a U.S. military hospital, while campaign manager Bill Stepien and ex-White House adviser Kellyanne Conway have also tested positive.
• The president is also taking Regeneron's antibody cocktail as reported last night.
• Senators Thom Tillis from North Carolina and Mike Lee from Utah have also confirmed that they have tested positive for COVID-19. Both are members of the Senate Judiciary committee. This morning, Senator Ron Johnson from Wisconsin confirmed that he is positive.
• In addition, three White House three journalists and one staffer have been confirmed to have tested positive.
• President Trump has tweeted that things are going well.
• The stock market has held up with much of the news absorbed and presidential uncertainty already a wildcard before an election around the corner.
• In a piece in this week's Barron's, the case is made that the odds may now increase that Washington will act more decisively to contain the virus, possibly with new public health measures and the passage of a broad-based stimulus package.
• "The elephant in the room is still momentum in the economy," says Jim Paulsen, chief investment strategist of the Leuthold Group. "This could give both sides of the aisle an excuse to agree on a bill," he notes.
• For individual stocks, there could be a bump in the road for the going-back-out trade amid heightened COVID anxiety. Keep an eye on names like AMC Entertainment (NYSE:AMC), Six Flags Entertainment (NYSE:SIX), Ruth's Hospitality (NASDAQ:RUTH), Royal Caribbean (NYSE:RCL) and Dave & Busters Entertainment (NASDAQ:PLAY) next week. Meanwhile, stay-at-home favorites like Wayfair (NYSE:W) and Peloton Interactive (NASDAQ:PTON) are likely to keep their pandemic premiums. For vaccine and therapy players, the stakes have also become much larger.
• https://seekingalpha.com/news/3619635-investors-tackle-new-covidminus-19-and-stimulus-wildcards-trump-hospitalized