Stocks jump as investors weigh Gilead coronavirus treatment, GDP data

  • 📰 USATODAY
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 100. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks Rally, Dow Up 400 Points After Gilead Treatment Shows ‘Positive Data’The market got a boost from news of a potential treatment for coronavirus. so there was no need to drop the interest rate to 0?
Source: Forbes - 🏆 394. / 53 Read more »

Coronavirus treatment: Gilead says positive data on remdesivir coming - Business InsiderOne of the most promising coronavirus treatment candidates succeeded in a late-stage trial in COVID-19 patients, Gilead said Wednesday.
Source: BusinessInsider - 🏆 729. / 51 Read more »