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U.S. Stock Futures Tumble With Virus Spread Stoking Volatility

March 30, 2020 admin Comments Off on U.S. Stock Futures Tumble With Virus Spread Stoking Volatility

(Bloomberg) — U.S. stock futures fell, rolling back more of last week’s surge, as traders reacted to weekend news that included U.S. coronavirus cases topping 132,000 and warnings that U.K. lockdowns could last six months.Contacts on the S&P 500 expiring in June fell 2% to 2,472 as of 6:59 p.m. in New York, paring a drop that exceeded 3% in the first minutes. Friday’s session had a turbulent end, with the cash market tumbling about 3% in the last half hour. The S&P 500 still managed to end the week with a 10% gain, its biggest in 11 years, boosted …read more […]

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U.S. Stock Futures Decline; Crude Oil Slides: Markets Wrap

March 30, 2020 admin Comments Off on U.S. Stock Futures Decline; Crude Oil Slides: Markets Wrap

(Bloomberg) — U.S. equity futures declined and the yen edged higher as investors kicked off the week with renewed caution amid the ongoing rise in coronavirus infections. Oil slid.Asian stocks looked set for losses after selling ramped up late Friday on Wall Street. The top U.S. infectious disease expert said deaths may reach 200,000 and President Donald Trump said he was extending virus guidelines to April 30. In Europe, Spain recorded its most daily deaths so far, though fatalities in Italy declined for a second day. The Aussie was lower after the country limited public gatherings to just two people. …read more […]

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U.S. May Reach 200,000 Deaths; Italy’s Toll Slows: Virus Update

March 29, 2020 admin Comments Off on U.S. May Reach 200,000 Deaths; Italy’s Toll Slows: Virus Update

(Bloomberg) — Deaths in the U.S. could reach 200,000, top infectious disease expert Anthony Fauci said, describing the estimate as a moving target. New York state’s fatalities are approaching 1,000.Italy’s deaths fell for a second straight day. A U.K. health official said restrictions may remain for six months or longer. Spain had its most daily deaths so far.A longtime senior Wall Street executive died of virus complications. New Orleans could run out of breathing machines within a week.Key Developments:Cases top 685,000; 32,000 dead, 145,700 recovered: Johns HopkinsSpain reports more than 6,500 fatalitiesU.K. lockdown could last until JuneIndia seeks to quarantine …read more […]

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Gilead Sciences Expects Coronavirus Drug Data in Coming Weeks, Expands Access

March 29, 2020 admin Comments Off on Gilead Sciences Expects Coronavirus Drug Data in Coming Weeks, Expands Access

Gilead Sciences Inc. (GILD) said it is expecting to have initial remdesivir drug data in coming weeks. The experimental drug is currently being evaluated as a potential treatment for coronavirus patients.“Multiple studies are ongoing, and we are on track to have initial data in the coming weeks,” said Gilead CEO and chairman Daniel O’Day. “If it is approved, we will work to ensure affordability and access so that remdesivir is available to patients with the greatest need.”TipRanks analytics show out of 19 analysts, 10 are bullish with a Buy rating on Gilead stock, 8 are sidelined with a Hold rating …read more […]