Why is The Stock Market Up 700 Points

As of Friday, April 12, The Dow Jones was up 700 points, which is about 2.99%. With Exxon Mobil Corporation (XOM) up over 10%. But why is the stock market up, when unemployment is hitting record highs and many states are in a state of emergency. 

Is a Cure Found? 

University of Chicago Medicine analyst saw “Very fast recoveries” in 125 patients suffering from COVID-19 who were taking Gilead Sciences Inc.’s GILD, +9.73% experimental drug redeliver as part of a clinical trial, according to a Thursday night report. This made Gilead Sciences Inc rose almost 9%.

I think that this made Wall Street think that a cure was close and that any good news with a cure or medicine would make any investor less worried. Also, this would make normal people think that the crash was coming to an end and these low prices are a good buy. 

Over 22 million Americans have lost their job due to COVID-19, moving it from 3.5% to around 15%. 

Companies to Watch 

Gilead Sciences Inc.’s (GILD)
Apple (AAPL)
Procter & Gamble Co (PG)


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