PERFECT TIMING OF THE GOOD NEWS ON CORONAVIRUS TREATMENT AS THE STOCK MARKET APPROACHES A HIGH RISK AREA $SPY $SPX $DIA $DJIA $AAPL $AMZN $GOOG $MSFT
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 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, 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.
April 29, 2020