17.04.2020 DOW JONES Daily Analysis

17.04.2020 DOW JONES Daily Analysis

The Dow Jones gained more than 900 points on Thursday and closed at $23563.68 (3%) after news from Gilead Sciences, a biotechnology company, reported that the infected patients were responding positively to its an experimental treatment. Gilead says the response to its antiviral medicine redeliver is really good and this saw the company's stock shoot up by 16% while the Dow's futures went up 3.6% vs fair value. Another stock that got investors optimistic and saw the improvement in the Dow's value was Boeing. The aircraft manufacturer has been one of the most affected during the whole covid-19 pandemic crisis. On Thursday Boeing announced that they will be calling back 27000 workers to begin building airplanes again. This news saw Boeing's stock surge up by almost 9% on Thursday. As earlier stated in an article on this series, investors are trying hard to be very hopeful during these troubled times. Any bit of  hope will get investors excited as can be seen by these two stocks. The result of the market continues suffering and the unemployment rate continues spiking globally. So far in the US about 22 million people have filed for unemployment benefits. Big banks are reporting huge losses yet the market is still holding on. There have been hints in the reopening of small sections of the economy soon and now we wait.