Redwood Capital Management Limited: Stocks jumps up due to news of potential Coronavirus Treatment
The news about the positive outcome of the coronavirus vaccine treatment from Gilead Sciences and the upcoming vaccine from BioNTech has boosted today’s market trading.
According to Gilead, “[Remdesivir] was associated with an improvement in clinical recovery and a 62 percent reduction in the risk of mortality compared with standard of care.” With this statement, GiLead shares jump up by 2%.
BioNTech on the other side also stated that the company’s coronavirus vaccine might be ready for approbation by December which made their shares jump up by 4.75% leading S&P 500 gain a few points higher.
Here are the main movements on Stock Market this Friday;
Stocks
– The Nasdaq Composite advanced yet again, grabbing another record high for the fourth time this week with 0.66% to 10,617.44.
– The Dow Jones Industrial Average increased 369.21 points or 1.44% closing its price to 26,075.30.
– The S&P 500 gained 1.05% closed to 3,185.04 on today’s trading day.
Bonds Globally
– The yield on the benchmark of 10-year Treasury note changes a few points at 0.599%.
– The yield on the 30-year Treasury bond dipped about 2 basis points to 1.283%.
– The yield on the 2-year Treasuries is down by 6 basis points to 0.149%.
– Germany’s 10-year yield declined one basis point to -0.47%.
– Britain’s 10-year yield declined one basis point to 0.15%.
Commodities
– Gold quite fell a few points losing -0.26% to $1,798.72 an ounce.
– West Texas Intermediate crude advanced with 2.35% higher to $40.55 per barrel.
– Brent crude also increased around 2.10% higher to $43.24 a barrel.
Currencies Globally
– U.S. Dollar Currency Index rallying at 0.05% higher to $96.56 per share.
– The Japanese yen strengthened 0.3% to 106.93 per dollar.
– The euro rose 0.1% to $1.1301.
– The British pound rose 0.2% to $1.2629.
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