[BENGALURU] US stocks rose on Friday as a positive analysis on Gilead Sciences Inc's antiviral drug to treat Covid-19 helped to soothe investor worries over a record rise in coronavirus cases in the United States, and as financial shares surged. Read more at The Business Times.
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.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US: Wall Street flat at open after record rise in US Covid-19 cases[BENGALURU] US stocks opened flat on Friday on nerves over a record rise in coronavirus cases nationwide hurting Corporate America, while data indicating Gilead's antiviral drug showed improved clinical recovery in Covid-19 patients kept losses in check. Read more at The Business Times.
Read more »
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.
Read more »
Gilead to deliver more remdesivir to Europe from autumn: WiWoGilead Sciences Inc plans to make more of its drug remdesivir available for Germany and Europe from autumn and will decide how much each country ...
Read more »
Ford may shut US plants due to lack of engines from Mexico: US ambassadorFord Motor Co may have to shut some U.S. car plants as early as next week if they fail to receive engines produced in Mexico's Chihuahua state, ...
Read more »
US State Department OKs possible US$23 billion sale of F-35s to JapanThe US State Department said on Thursday it had approved the possible sale of 105 Lockheed Martin F-35 fighter jets to Japan at an estimated cost ...
Read more »
Oil falls US$1/barrel as resurgent pandemic prompts worries about US demand[NEW YORK] Oil prices fell about US$1 a barrel on Thursday as investors worried that renewed lockdowns to contain the spread of coronavirus in the United States would again sink fuel consumption. Read more at The Business Times.
Read more »