Friday, April 17, 2020

Dow spikes 700 points

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U.S. equity markets were off to the races Friday morning after a COVID-19 treatment showed promising results and President Trump laid out a roadmap to reopen the U.S. economy. ⁣ ⁣The Dow Jones Industrial Average soared 611 points, or 2.6 percent, in the opening minutes of trading while the S&P 500 and Nasadaq Composite climbed by 2.2 percent and 1.5 percent, respectively. ⁣ ⁣Trump held a press conference Thursday evening that unveiled the administration’s plans for “opening up America again,” a data-driven strategy that will take place in three phases and allow for daily activity to eventually return to normal. ⁣ ⁣A trial conducted by University of Chicago Medicine found the Gilead Sciences drug remdesivir showed promising results in the treatment of patients with COVID-19, according to a report from STAT. Gilead released a statement saying anecdotal reports do not have the statistical capability to measure the drug's safety.

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