Stocks were taken for a wild ride on Thursday that showed how important finding a Covid-19 treatment is for Wall Street. Here's how the major averages performed: - The Dow rose 39 points. - The S&P 500 lost .05%. - The Nasdaq fell .01%.
closed just below breakeven at 8,494.75. Both the Nasdaq and S&P 500 were up more than 1% at their session highs.
that Gilead Sciences' drug remdesivir did not improve patients' condition or reduce the coronavirus pathogen in their bloodstreamGilead took issue with the report, saying: "Because this study was terminated early due to low enrollment, it was underpowered to enable statistically meaningful conclusions. As such, the study results are inconclusive, though trends in the data suggest a potential benefit for remdesivir, particularly among patients treated early in disease.
"Any sort of treatment is key for people to getting people back out into the world," said Kim Forrest, founder of Bokeh Capital, on CNBC's " Earlier in the week, concerns over a lack of energy demand sent WTI's May contract — which expired Tuesday — into a negative price. Crude prices are also down sharply year to date even after their strong gains over the past two days.
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