Gilead’s news saved the day for the stock market, which is in a high-risk area
By Nigam Arora
Published: Apr 29, 2020 4:47 pm ET
The drug company’s treatment for the coronavirus sent the broader market soaring. Prudent investors will note the shaky ground underneath
I sit surrounded by 17 screens that help me visualize incoming data related to the stock market. These days, front and center, are screens on coronavirus-related stocks. Often stocks start moving faster than I can find out about the news.
My Gilead Sciences GILD-1.82% alarm rang, and a quick glance showed that its stock was halted. Stock market futures showed continued buying, indicating that the news was likely good. Then futures started rocketing, and Wall Street’s fear gauge, the VIX VIX+11.72% fell as the news circulated.
The first good news was that data emerging from National Institute of Allergy and Infectious Diseases (NIAID) study of remdesivir for the treatment of coronavirus showed the antiviral had met its primary endpoint. The second good news was from the results of Gilead’s SIMPLE trial, showing patients who received a 10-day treatment of remdesivir achieved similar results compared with those taking a five-day course.
Let’s examine with the help of two charts the perfect timing of the good news from Gilead as the stock marketapproaches source:https://www.marketwatch.com/amp/story/guid/B9A3CDE0-8A23-11EA-805E-BE7772630DE1 a high-risk area.
By Nigam Arora
Published: Apr 29, 2020 4:47 pm ET
The drug company’s treatment for the coronavirus sent the broader market soaring. Prudent investors will note the shaky ground underneath
I sit surrounded by 17 screens that help me visualize incoming data related to the stock market. These days, front and center, are screens on coronavirus-related stocks. Often stocks start moving faster than I can find out about the news.
My Gilead Sciences GILD-1.82% alarm rang, and a quick glance showed that its stock was halted. Stock market futures showed continued buying, indicating that the news was likely good. Then futures started rocketing, and Wall Street’s fear gauge, the VIX VIX+11.72% fell as the news circulated.
The first good news was that data emerging from National Institute of Allergy and Infectious Diseases (NIAID) study of remdesivir for the treatment of coronavirus showed the antiviral had met its primary endpoint. The second good news was from the results of Gilead’s SIMPLE trial, showing patients who received a 10-day treatment of remdesivir achieved similar results compared with those taking a five-day course.
Let’s examine with the help of two charts the perfect timing of the good news from Gilead as the stock marketapproaches source:https://www.marketwatch.com/amp/story/guid/B9A3CDE0-8A23-11EA-805E-BE7772630DE1 a high-risk area.