Increased positive news on a possible virus treatment drug…
And American and Europe aircraft and vehicle back to work actions along with some Governor’s moving to soften some of their states virus restrictions…
Casino stocks for Caesars have gone up 59% in the last month…
Some Airline stocks (American, Delta and United) have also risen today…
Stocks in the United States rallied on Friday, with efforts to reopen the economy taking center stage and investors undeterred by more data showing the economic damage of the coronavirus pandemic.
The gains came after President Trump told governors on Thursday that they could begin reopening businesses in their states by May 1 or earlier, and Boeing — one of the nation’s largest manufacturers — said it planned to bring about 27,000 employees back to work in Washington State to resume aircraft production.
The announcement is the first attempt at large-scale resumption of business activity by a U.S. corporation since the coronavirus outbreak forced companies and government officials to shut down most nonessential work. Boeing’s shares rose more than 14 percent on Friday.
Some European automakers — including Volkswagen, Volvo and Daimler — are planning to restart assembly lines next week, staffed by workers in masks and protective clothing, sometimes separated from one another by plastic screens.
Opel, a unit of the French automaker PSA, said it would reopen its German dealerships on Monday after the German government announced that it would gradually ease lockdown restrictions.
The S&P 500 rose 2.7 percent, while Boeing’s gains led the Dow Jones industrial average to a 3 percent jump.
After global stock markets nose-dived earlier this year, they have been rebounding since late March, as investors have routinely looked past evidence of the damage caused by stay-at-home orders and business shutdowns, and instead focused on hopes for an eventual recovery. The gains on Friday mean stocks ended the week higher, despite reports showing a historic plunge in retail sales and a continued surge in unemployment claims.
The S&P 500 is now up more than 28 percent from its lowest point this year, which was reached on March 23. It is still nearly 18 percent below its high in late February.
On Friday, the rally came after China reported that its economy — the world’s second-largest after that of the United States — shrank for the first time in decades. And data on car sales in Europe showed they collapsed.
Some also saw hopeful signs in a report by the medical news website STAT that a drug from Gilead Sciences showed early — and, thus far, unproven — promise in fighting the coronavirus. According to STAT, the antiviral drug, remdesivir, has helped patients with severe symptoms recover rapidly in a clinical trial at a Chicago hospital. Gilead’s shares jumped nearly 10 percent.
Still, without data from rigorous trials with control groups, it is impossible to know how effective the drug actually is. The National Institutes of Health is conducting a trial in which patients receive remdesivir or a placebo. The results will be known within weeks….
Note…
Today has been a good ‘perception’ day for Trump for some…
One would question if it will last?
The Stock Market tend to jump up a few days then drop….
Check this link out, it’s old news about the Cares Act, but didn’t realize you won’t get hit with the 10 percent tax penalty if you withdraw money from your 401K early up to 100K
https://news.prudential.com/congress-passes-emergency-aid-package.htm
Good for those who do have a 401k…