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Trump Says Stimulus Talks Progressing, Won't Do Virtual Debate

President Donald Trump told Fox Business that he won't participate in a virtual debate with Joe Biden, following changes proposed by the Commission on Presidential Debates earlier Thursday.

President Donald Trump said Thursday that he won't participate in a virtual debate with Joe Biden, casting doubt on the pair's highly-anticipated second clash in Miami.

Trump, speaking to Fox Business by telephone after testing positive for the coronavirus last week, said changes to the contest format, which were announced earlier Thursday October 15 by the Commission on Presidential Debates, were "unacceptable" and designed to favor his rival, the former Vice President.

"I won't waste my time. I easily beat him (in the last debate) and he knows it," Trump said. "The debate style change is simply not acceptable."

Trump also said that stimulus talks, which he declared over earlier this week, were showing progress, and could include support beyond the airline sector, which is reportedly in-line to receive around $25 billion. 

U.S. stocks pared gains in early Thursday trading following Trump's stimulus comments, with the Dow Jones Industrial Average rising 70 points at the opening bell while the S&P 500 bumped 15.15 points, or 0.45%, to the upside.

Eli Lilly  (LLY) - Get Free Report shares were also on the rise, gaining 2.5%  to trade at $152.69 each after Trump suggested the drugmaker could receive Emergency Use Authorization from the U.S. Food & Drug Authorization for its its developing coronavirus antibody treatment.

Eli Lilly said yesterday that the request for Emergency Use Authorization, or EUA, followed trial data showing that the experimental antibody, Y-CoV555, met both primary and secondary endpoints. The drugmaker had earlier noted the that the treatment reduced the need for hospitalization and emergency-room visits among patients with moderate coronavirus symptoms.

Regeneron shares, too, were boosted by the President's comments, which praised its coronavirus antibody treatment, and news that the drugmaker said it will seek emergency use authorization from the FDA.

President Trump was injected with the treatment last week, according to his physicians, and he claimed in a video released late Wednesday to "feel good immediately" and suggested that "it just me me better. I call that a cure."