Gilead's remdesivir significantly improved clinical recovery and reduced the risk of death in Covid-19 patients, additional data from a late-stage study showed. The drugmaker's shares climbed 2.2 per cent as it said the finding required confirmation in clinical trials.
For the week, the Dow rose 1 per cent, the S&P 500 gained 1.8 per cent and the Nasdaq jumped 4 per cent. The Cboe Volatility index ended down on the day and fell 0.39 points for the week. The S&P 500 is up more than 40 per cent from its March 23 bottom, thanks in part to economic data that has pointed to a revival in business activity in June.
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US: Wall St gains as investors cheer declining jobless claims[NEW YORK] US stocks opened higher on Thursday after data pointed to a declining trend in weekly jobless claims, with investors also weighing the risk of another business shutdown as US Covid-19 cases soared. Read more at The Business Times.
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