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Stocks closed lower on Tuesday, giving up a massive rally from earlier in the day, as Wall Street assessed the latest news on the coronavirus outbreak. The Dow Jones Industrials gave up gains of as much as 900 points at one time, and lost 26.13 to 22,653.80. The S&P 500 docked 4.27 points to 2,659.41 The NASDAQ Composite dropped 25.98 points to 7,887.26 Some investors believed stock prices were getting ahead of the reality where coronavirus shutdowns are likely to weigh on the economy significantly beyond the second quarter. The major averages have... -Baystreet.ca
Stocks in the U.S. covered higher ground Monday, rebounding from the previous week’s steep losses, as number of new coronavirus cases appeared to be slowing down. The Dow Jones Industrials popped 1,627.46 points, or 7.7%, to 22,679.99. Stocks such as Boeing hiked 17.5% to lead the Dow, while Raytheon, American Express and VISA all picked up more than 10% each. The broader S&P 500 grabbed 175.03 points, or 7%, to 2,662.68, led mostly by techs, utilities and material stocks. The NASDAQ Composite jumped 540.16 points, or 7.3%, to 7,913.24. Shares of... -Baystreet.ca
Gilead Sciences said it is donating 1.5M doses of its experimental anti-coronavirus drug remdesivir, which could treat 140,000 patients. In an open letter, Chairman and CEO Daniel O'Day said that the drug will be offered for compassionate use, expanded access and clinical trials, and will treat patients with severe symptoms. "In addition to the expanded access programs, we continue to provide remdesivir on an individual compassionate use basis for children and pregnant women. More than 1,700 patients have now been treated through these programs. ... -The Fly
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