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Stocks - Dow Gains as Trump Details Potential Therapies to Combat Covid-19

Published 03/19/2020, 12:29 PM
Updated 03/19/2020, 12:32 PM
© Reuters.

By Yasin Ebrahim 

Investing.com – The Dow rose Thursday after President Donald Trump detailed a range of therapies that could be used to treat the Covid-19 virus.   

The Dow jumped 1.60%, theS&P 500 rose 1.15% and the Nasdaq Composite added 3,07%.

 Trump said the Food and Drug Administration had approved severe arthritis and malaria drugs, hydroxychloroquine and chloroquine respectively, for use against the coronavirus, which has infected as many as 10,755 in the U.S.

The approved therapies will help bide time for health professionals who are in a race against time to find a potential vaccine, which some say could take up to 18 months before becoming publicly available.

With the economy expected to take a hit from the virus outbreak, corporations have been urged to hold off stock buybacks to preserve their balance sheets. The move has been backed by Trump, who said he OK with imposing a ban on stock buybacks as a condition for companies to receive bailouts.

Energy clawed back some of its losses from a day earlier as oil prices bounced back strongly as traders continue to assess whether stimulus efforts will help ease the impact from the virus outbreak.

Treasury Secretary Steven Mnuchin said earlier that the White House’s stimulus plans would include $500 billion for direct payments to Americans -- $1,000 per person and $500 per child.

Latest comments

Trump is so smart
when the virus was realised internationally all international and out of state travel should of been stopped for a week, im guessing thats enough incubation time for the symptoms to show and also identify carriers of the virus as healthy ppl would being to get unwell.....this is our 3-4 potential pandemic....1 century after the last pandemic ' in flu enza' ...1 major attack in the developed world, the complete over haul of air travel luggage packing screening scanning etc etc....why not stick a thometer in there and ask a couple specific questions and maybe passport with medical data...last flu like virus or bacterial infection and/ or immediate known family.....why not?
Why US and Goober innocent should die cause of China. At the first spreading in there, China set a whistleblower doctor to behind bar for tried to warning the serious of virus to people. After that epidemic burst out and the doctor passed away by virus. We should blame this and let them pay something to global. Those 2st largest economy virus spreader.
As I know, someone only knows blaming, all the time. Check history facts on other pandemic.
thanks dr trump
Many US citizens will die because the US has a total nutcase for President. He is incapable of handling this crisis and he must be held respobsible for a lot of the misery that will come to the US soon...
How about Xi? Global include US maybe no need to take suffer, China did proper reaction at first step of virus spreading in China, but they just hide and made virus bomb to global. Why global do not say nothing about this? also the WHO chairman, a speak person for china, should be fired right now.
"the WHO chairman, a speak person for china". Do you think about why? If the WHO blames China, you wouldn't say "speak person for US", right? Stop blaming with the rumors and focus on saving US people (then saving people in other country if insisting on "American First").
It is bad that we have a president like to interfere the financial market through Twitter or release information which was not confirmed by professionals . , at the beginning he claimed everything will be fine and is under controlled , and now everything is not fine we may have a recession . And now there is a magics that the Therapies will be available very soon without be backed up by the expert who have full knowledge and experience in this area . Why the president just keep quiet, stop interfering the Financial market which is no his job and concentrate his every thing he should do daily , then America will be better off. Now everyone got confused
Worry about your own country, we’re going to be just fine in the USA.
  No, dummy, we aren't going to be fine. 1M people could die from this in the United States alone.
Ha Ha, we do not need to development any drugs from now on, but just run the IBM super computer, the drugs will be in the store in two months
It is funny how can the Therapies be developed in less than four months ? The Wuhan broke out in China in Jan of 2020m before that , no one know so called Covid_19, if following a standard process which took at least 18 month s to develop, that mean the development of this  Therapies started at no later than September of 2018, but by that time noone ever heard about Covid_19, then how can the Therapies be developed without even know the structure of the Void_19 at September of 2018 ?
What a floundering act from the "DRAIN THE SWAMP" president! The SWAMP (if any of it is left) is what will save us.
Sounds like it'sYour kind of place, but you're a small creature there -
I am here to read comments
trade war was better 🙂
You know nothing
Deep state wants market lower. You can see by the trading action offering to drop prices not to sell at best price.
Swamp State ? G.S. the fascist?
I've sat many times and watched the bulls bid the ask on a handfull of shares to.pump prices.
Wait 5 Sec.s and the W.H.O , C.D.C come in to tell the TRUTH on this ?! lol
JonBent., If you knew a small piece about anything bio-... You'd be doing better.
Ppl need to understand the media is enemy #1. When war ever breaks out, they are the other side
The World’s Most Powerful Supercomputer Has Entered the Fight Against Coronavirus. The IBM-built Summit has found a list of promising drugs for Covid-19! https://onezero.medium.com/the-worlds-most-powerful-supercomputer-has-entered-the-fight-against-coronavirus-3e98c4d67459
Trump save us again
Trump is rhe best leader in times like this
All citizens need only 3 steps to slow down the spread of Covid 191. wear masks and wash hand2. wear masks and wash hand3. wear masks and wash handPump tri tri billion money to market doesn't mean this horrible virus could be avoided and cured. Only way is to care yourself and your family, money will be come back for sure.
those drugs are already used in Korea, the death rate is still 1%. Would you think nobody would have tried it before?
Tried Remdesivir?Tell us who's been using this in Korea please.
Until recently, of course...
koko... where have I heard that name before ?
Did he mention Gilead's Remdesivir? It's currently being used as a front line drug to fight Covid 19.
mentioned specifically -
Please stop trusting what Trump says. He said it was under control and not a problem less than a month ago, now he's saying he saw it coming. Trust the CDC and other medical experts instead.
W a y. bedder Del
He DID have those "shovel ready jobs" too as I recall...
Again and again, he presented lies. His fans certainly still have faith in him, regardless of facts.
It used to be Thanks Obama but now it’s Thanks China
Thank 'em both -
To everyone that is reading this, I want to make you and others aware that Trump is, as usual, giving false information regarding the treatment, mainly stating that using Chlorquin a therapy for malaria IS NOT A FDA APPROVED therapy for the treatment of COVID 19 virus. So far, all the studies that have been performed are out of China or on a tiny scale. These studies are not randomized and clinically based, and what data is available is mostly are in vitro studies. New England Journal of Medicine has even mentioned that it would be dangerous to simply use a therapy without the proper clinical trials to see if this particular medication is genuinely useful in *****the virus. Therefore, Trump is again lying about a treatment that has not been officially approved and still may not work. Once again he is using this as a political ploy in the hope of giving false representation and promoting a treatment that does not have enough data behind it to deem it safe for use against the COVID 19 virus.
Yes it is trying, but 1) the first tests in France were on a 24 patients. The doctor is a narcissist who advises Macron, and more, Korea already use it and it has been used in Guandgong. The death rate is still 1% in korea, it has been 0.6% in Guangdong, in korea they know about it, and they use it, and they have a very good healthcare system. If it had the fantastic effect claimed, it would already be the miracle claimed. In vitro studies don't mean a lot, chloroquine was also supposed to work for SRAS or MERS. In vitro, bleach kills the coronavirus too, will you try it?
Great, thanx for wasting my time Roger. Did you copy that off the CNN site?Gotta put you over with Rhom Miller, BenDover, JonBent., and a couple others- No, not you Dr. -
I'd try the one with the best efficacy rate, wouldn't you?
Along with hydroxychloroquine and chloroquine, azithromycin also has a 100% success rate on ****Covid-19. We have the cure but still need a vaccine.
no it doesn't. It's used in korea, see what happens.
There's this big bag of hope Paul. It's full of Remdesivir and it'll probably be free.
A bit limp Mathew.... Cure ?
This is the Chinese way of getting back at the Trade Deal . They collapsed our 401ks and economy
America will come out of problem
why the dislikes, thats absolutely visible
don't blame your far-away neighbors if you burn your house. Find a solution.
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