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4/29, 3:30 PM (Source: TeleTrader)
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Dow jumps over 400 pts on COVID-19 drug trial success

United States markets opened sharply higher on Wednesday after Gilead Sciences announced its drug remdesivir showed positive results in treating COVID-19 patients during clinical trials. Elsewhere, investors digested worse-than-expected US GDP figures and awaited the Fed's interest rate decision. On the earnings front, companies including Boeing and Mastercard reported before the bell, while Facebook, Microsoft and Tesla are all due to report after the session ends.

The Dow Jones jumped 1.61% at 9:30 am ET. American Express led the gains, rising 4.10% at 9:32 am ET.

The Nasdaq 100 rallied 2.11% at 9:31 am ET. The best perfomer was United Airlines, whose shares surged 10.78% at 9:32 am ET, while Alphabet jumped over 8% after posting upbeat first quarter results.

The S&P 500 climbed 1.95% at 9:31 am ET.

The euro added 0.42% against the dollar to sell for 1.08672 at 9:34 am ET.

Breaking the News / NP