Anthony Fauci, the top U.S. infectious disease official, said Gilead’s antiviral remdesivir will become the standard of care for COVID-19 after early results from a trial seemed to show it helped speed recovery.
“I think it is reasonable for markets to be less bearish than they were in mid-March...but it’s far too early for a sustained rally in risk appetite, so we’re probably due for a little bit of a pullback.” The yield on benchmark U.S. 10-year Treasuries US10YT=RR stayed parked at 0.6237%, after the U.S. Federal Reserve left interest rates near zero and gave no indication of lifting them any time soon.rose 1%. Markets in Hong Kong and South Korea were closed for public holidays.
That has the ECB under increasing pressure to deliver even more support on Thursday - probably by expanding its bond buying programme - as European leaders seem unable to agree on the details of a rescue package.
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What to watch today: Stocks set to rally again, tracking to break three-month losing streakStocks are set to advance as Dow stocks 3M, Caterpillar and Pfizer rise on earnings and U.S. oil prices come off their lows. $ZNGA
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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?
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Stocks charge higher on hopes for progress in fighting virusStocks charged higher around the world Wednesday following an encouraging report on a possible treatment for COVID-19. The optimism helped send the S&P 500 up 1.9% in the first few minutes... Great news Another proof that finance is enemy of the people. I have a good feeling about Alka Seltzer.
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