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Stocks jump as investors weigh Gilead coronavirus treatment, GDP data

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U.S. stocks rebounded Wednesday as upbeat data on coronavirus treatment from Gilead Sciences offset fresh figures that showed U.S. economic growth contracted more than expected in the first quarter.

It comes as data revealed the U.S. economy, largely shut down by the coronavirus pandemic, ended the longest economic expansion on record.at a seasonally adjusted annual rate of 4.8% in the January-March period as both consumer and business spending fell sharply, the Commerce Department said Wednesday. It marked the first drop in output since early 2014 and the steepest since late 2008, during the depths of the Great Recession.

Investors seemed buoyed as more governments plan to ease anti-virus controls and allow businesses to reopen. The French and Spanish governments announced plans Tuesday to allow restaurants and other businesses to reopen gradually. They followed Italy, which announced similar plans Sunday.

 

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lacadri34 It’s still ya over where it should be

Ignorance has no color.... by, Evon Latrail evonlatrail trending 👏👏👏

I just wish this would mean the end of covid 19🤷🤷🤷🤷

And I sold my Gilead a year ago! 😖

This literally sums up the Market and how it’s literally like 90% detached from reality.

Wait til tommorows weekly unemployment numbers hit

Huh

🤔🤔🤔

Fake Stock Market

Stocks really?!?

Upbeat data?

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