U.S. first quarter GDP fell 4.8%, as the Federal Reserve is scheduled to announce its latest policy decision on Wednesday. Belpointe Asset Management Chief Strategist David Nelson joins Yahoo Finance’s On The Move to discuss....
(Bloomberg) -- Gilead Sciences Inc. said early results from a U.S.-government run study showed its experimental drug to treat coronavirus helped patients recover more quickly than standard care, suggesting it could become the first effective treatment for an illness that has turned modern life inside-out.The company put out a news release early Wednesday commenting on the study from the U.S. National Institute of Allergy and Infectious Diseases without providing details of the results. Gilead’s share price and the broader stock market have been churned in recent weeks by a series of early looks and leaks of trial data on the drug, called remdesivir. Last week, apparently discouraging results of a Chinese trial caused Gilead and the wider market to swoon.On Wednesday, Gilead shares jumped as much as 7.1%. The news appeared to boost the entire U.S. stock market as well, with the S&P 500 gaining 2.4% despite data showing a deep...
Ford Motor Company (NYSE: F) and its luxury segment Lincoln Motor Company have announced the shelving of their plans to build a new electric vehicle (EV) with Michigan-based EV startup Rivian – a decision forced by the current financial and healthcare environment. Though the reasons were not spelled out, it can be inferred that the ongoing COVID-19 crisis was a primary reason for the halt. However, the companies are optimistic and plan to co-develop a vehicle in the future. "Our strategic commitment to Lincoln, Rivian and electrification remains unchanged and Lincoln's future plans will include an all-electric vehicle consistent with its Quiet Flight DNA," said Lincoln's spokesperson in a statement. Rivian was one of the earliest startups within the EV segment, initially founded with the goal of building an EV sports car to rival Tesla, Inc. (NASDAQ: TSLA) Roadster. In 2019, Rivian had investments pouring in from all quarters, starting with a $700 million...
(Bloomberg) -- Gilead Sciences Inc. said early results from a U.S.-government run study showed its experimental drug to treat coronavirus helped patients recover more quickly than standard care, suggesting it could become the first effective treatment for an illness that has turned modern life inside-out.The company put out a news release early Wednesday commenting on the study from the U.S. National Institute of Allergy and Infectious Diseases without providing details of the results. The agency didn’t release any information about the widely anticipated trial.Gilead’s share price and the broader stock market have been churned in recent weeks by a series of early looks and leaks of trial data on the drug, called remdesivir. Last week, apparently discouraging results of a Chinese trial caused Gilead and the wider market to swoon.On Wednesday, Gilead shares jumped as much as 7.1%. The news appeared to boost the entire U.S. stock market as well, with...
China's top market regulator and securities watchdog are scrutinizing the company's books, after Luckin said an internal investigation had shown its chief operating officer and other employees fabricated sales deals worth about 2.2 billion yuan ($310.77 million). Earlier on Wednesday, the Wall Street Journal reported the U.S. Securities and Exchange Commission was also investigating Luckin. The company , a rival to Starbucks Corp in China, also said it had limited access to its office buildings in the country due to the coronavirus pandemic, adding to the delay of it 2019 annual report, which was due on April 30....
The Federal Reserve is scheduled to release its latest policy statement at 2 p.m. ET followed by Chairman Jerome Powell’s press conference at 2:30 p.m. ET....
