US markets started the week on a positive note despite a spike in new coronavirus cases. Various states in the US, including Texas and Florida, have reversed their reopening measures after witnessing a record rise in cases last week, including the highest single-day infections of 52,000 on Wednesday. Investors cheered news of Pfizer and German
US markets ended at their lowest level in around two weeks on Friday, with concerns around the record rise in new infections. Wall Street was looking to extend the previous week’s rally, but failed to build on gains as various states in the US continued reporting a rise in daily cases, forcing Texas and Florida
US stocks clawed back some of its losses last week, after nosediving the week before. Markets were supported by the Federal Reserve’s announcement on Monday around its plans to begin buying individual corporate bonds in addition to the ETFs already being purchased. The latest move by the Fed comes a week after the FOMC (Federal
After surging for several weeks on hopes of a fast rebound in the economy, US stocks struggled to carry the momentum forward last week. The major US indices recorded sharp losses for the week, despite the Nasdaq breaching the 10,000 mark for the first time in its history, during the week. Gloom gripped the market
The last trading day of the week brought a big surprise to the markets, as the May jobs report showed an unexpected increase in payroll numbers and a decline in the unemployment rate. The Bureau of Labor Statistics Friday reported a decline in the US unemployment rate to 13.3% in May, from 14.7% in the
The holiday-shortened week started on a positive note with another pharma company announcing development plans for its novel coronavirus vaccine candidate. Novavax disclosed on Monday that it had started the Phase 1 clinical study for its covid-19 candidate, NVX-CoV2373, and is expecting to release the preliminary results in July. US stocks rallied last week, as
Last week started on a positive note with Moderna being among the latest companies to announce encouraging interim Phase 1 data for a covid-19 vaccine candidate. The company, which is partnering with the National Institutes of Health, said that its candidate, mRNA-1273, is likely to enter Phase 3 trials in June subject to earlier trial
Last week started with excitement around the reopening of most economies around the world, businesses beginning to open their shutters and people getting ready to move out of their homes. But the euphoria didn’t last long. The bears began their prowl again, following downbeat remarks by the Federal Reserve Chairman Jerome Powell, pushing the markets
The US Labor Department Friday reported a staggering 20.5 million job losses in the country in April, sending the unemployment skyrocketing to 14.7% amid shelter-in-place orders and factory closures to combat the COVID-19 pandemic. While the job losses and unemployment rate easily outpaced the records created post-World War II, they were better than the consensus
Gilead Sciences, Inc. grabbed investor attention last week after the company announced positive results of its antiviral drug remdesivir in closely watched clinical trial. Investors cheered the news of a possible treatment for the deadly coronavirus infection, sending the stock market higher. The pharma giant’s drug was subsequently granted emergency use authorization by the FDA
