Dow futures rally 900 points after report says Gilead drug showing effectiveness against coronavirus.
that a Chicago hospital treating coronavirus patients with Remdesivir in a trial were recovering rapidly from severe symptoms. The publication cited a video it obtained where the trial results were discussed.
"To me, the critical issue is employment," Maley added. "If the economy can bounce back quickly enough to take the unemployment rate back into the low-single digits quickly, that's going to be very bullish." "An effective treatment is a huge deal and would create a path to open the economy and resume normal 'social activities' way sooner than a vaccine," said Tom Lee, head of research at Fundstrat Global Advisors. "A treatment is safer and more scalable because it is only given to people who need to be treated.
However, the stock market has rallied since March 23 as new coronavirus cases in the U.S. and globally showed signs of plateauing. President Donald Trump said Thursday that "our experts say the curve has flattened and the peak … is behind us."Since late March, the S&P 500 has jumped more than 25% while the Dow has gained 26.6% in that time. Stocks also got a boost after the Federal Reserve cut rates to zero and stabilized credit markets while Congress passed a stimulus plan.
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