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4/29, 6:41 PM (Source: TeleTrader)
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Dow up over 600 pts after COVID-19 drug clears trial

The Dow Jones climbed over 600 points on Wednesday on the back of Gilead's possible coronavirus treatment.

Remdesivir, initially developed by Gilead Sciences for the Ebola virus, has cleared a clinical trial that included 397 patients with severe cases of COVID-19. Director of the National Institute of Allergy and Infectious Diseases Dr. Anthony Fauci said that the trial demonstrates a "clear cut significant positive effect in diminishing the time to recover" from COVID-19.

The Dow surged 603 points at 12:40 pm ET. Among the top gainers in the blue-chip index were Boeing, American Express and Visa.

Breaking the News / JC