Equity futures jump in optimism of COVID-19 treatment and discussions on economic reopening

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Equity futures kicked off overnight Thursday night after policymakers stepped up talks on reopening companies, and treatment from a major drug maker would have been promising in treating diagnosed patients with COVID-19.

one showing another increase of more than five million new weekly job applications. “data-reactid =” 17 “> The latest, more optimistic developments have helped to offset a wealth of dire economic data released earlier on Thursday , including one showing an increase of more than five million new weekly job applications.

STAT reported that a Gilead (DORER) antiviral treatment caused “rapid recovery from fever and respiratory symptoms” in people with COVID-19. Gilead’s stocks jumped more than 14% at the end of the session. “Data-reactid =” 18 “> After the market closed on Thursday, STAT reported that Gilead antiviral therapy (GILD) was resulting in” rapid recovery from fever and respiratory symptoms “for people with COVID-19. Gilead’s stock jumped more than 14% in late trading.

also ran to develop – & nbsp; sparked optimism among equity traders. The SPY (ESPION) exchange-traded fund monitors S & amp; P 500 jumped by more than 2% at the end of the session following the report. “Data-reactid =” 19 “> Improved prospects for a vaccine – which other health giants, including Johnson & Johnson, have also fought to develop – have sparked renewed optimism among stock traders.

“Data-reactid =” 20 “> In the United States, the coronavirus has so far made more than 654,000 people sick and killed more than 30,000, according to data from Johns Hopkins on Thursday evening.

But weeks of tough social distancing across the country, and in particular in some of the country’s largest cities, have helped “smooth the curve” of new hospitalizations and new cases, emboldening the talk of resuming activities that were interrupted during the pandemic.

three-phase plan for economic reopening, leaving states to go through each phase at their own pace and ensure that screening, surveillance and emergency plans remain in place in the event of a new wave infections would occur. on a three-phase plan for economic reopening, leaving it to states to go through each phase at their own pace and ensure that tests, surveillance and emergency plans remain in place in the event of new wave of infections.

But with the number of cases still high in absolute terms, some of the states hardest hit by the coronavirus have doubled their current social distancing standards, at least in the short term. New York Governor Andrew Cuomo extended the closure of the hardest-hit coronavirus state on Thursday until May 15, in coordination with other states in the northeast.

Boeing said Thursday will begin increasing production of commercial aircraft in the Seattle area starting next week, after temporarily stopping production late last month. Stocks of Boeing, a component of Dow, rose more than 7% in after-hours trading. “Data-reactid =” 24 “> Some companies have also planned to restart their operations undermined by the coronavirus epidemic. Boeing said Thursday it will begin ramping up its production of commercial aircraft in the Seattle area starting next week, after temporarily shutting down production late last month. Shares of Boeing, a component of Dow, rose more than 7% in after-hours trading.

6:01 p.m. ET Thursday: Equity futures open sharply higher

Here are the main steps you took at the start of the overnight trading session for the US equity futures market, at 6:01 p.m. ET Thursday:

  • S&P 500 Futures (ES = F): up 77.75 points, or + 2.79% to 2,865.25
  • Dow Futures (YM = F): up 681 points, or + 2.91% to 24,088.00

  • Nasdaq Futures (NQ = F): up 188 points, or + 2.15% to 8,922.25

View of an almost deserted Broad Street and the New York Stock Exchange building in the financial district of Lower Manhattan during the epidemic of coronavirus disease (COVID-19) in New York, New York, United States, April 3, 2020. REUTERS / Mike Segar

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