Stock Futures Recover On Positive News About Coronavirus Treatment

(RTTNews) - The major U.S. index futures are currently pointing to a modestly lower open on Friday but have climbed well off their worst levels.

The futures have shown a notable recovery after Gilead Sciences (GILD) said remdesivir showed a sharp mortality risk drop when used to treat patients suffering of coronavirus.

U.S. stocks ended mostly lower Thursday as the relentless surge in coronavirus cases across America raised fears of another lockdown in several states and dimmed prospects for a quick economic recovery.

The major averages ended the session mixed. The tech-laden Nasdaq composite index surged up 55.25 points or 0.53 percent to settle at 10,547.75, a record closing high. The Dow slid 361.19 points or 1.39 percent to settle at 15,706.09, while the broader S&P 500 drifted down 17.89 points or 0.56% to 3,152.05.

Concerns about coronavirus infections in the country rose after more than 60,000 new Covid-19 cases were reported on Wednesday, the biggest increase ever reported by a country in a single day. Florida reported a record increase in hospitalizations.
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