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
Wild market swings have become the new normal amid the coronavirus outbreak. The steep decline in oil prices came as no surprise. But no one could have imagined even a few weeks back that oil prices would plummet to negative territory. Shockingly, for the first time in history, West Texas Intermediate (WTI) crude oil nosedived
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
