Wall Street gains on Boeing news, Trump’s reopening plan

first_imgGilead Sciences Inc surged 8.1 percent following a report that patients with severe symptoms of COVID-19, the respiratory disease caused by the coronavirus, had responded positively to its experimental drug, remdesivir.With no treatments or vaccines currently approved for the coronavirus, the news lifted global equity markets, but Gilead said the totality of the data from the trial needed to be analyzed and it expected to report results from a study in severe COVID-19 patients at the end of April.The Dow Jones Industrial Average rose 445.98 points, or 1.89 percent, to 23,983.66, the S&P 500 gained 47.29 points, or 1.69 percent, to 2,846.84 and the Nasdaq Composite added 40.45 points, or 0.47 percent, to 8,572.81.Bank stocks recovered after four straight days of losses triggered by lenders reporting several billion dollars in reserves to cover potential loan defaults. Financial stocks were the top boost to the S&P 500.Apple fell as Goldman Sachs downgraded the stock on expectations of a 36 percent drop in iPhone shipments during the third quarter due to coronavirus-related lockdowns.Advancing issues outnumbered declining ones on the NYSE by a 4.96-to-1 ratio; on Nasdaq, a 3.58-to-1 ratio favored advancers.The S&P 500 posted eight new 52-week highs and no new lows; the Nasdaq Composite recorded 28 new highs and nine new lows.Topics : However, the index remains well off its all-time high and strategists have warned of a deep economic slump as a halt in business activity puts millions of Americans out of work.Some US states on Friday were expected to announce timetables for lifting restrictions, a day after Trump outlined guidelines for a phased reopening of the devastated US economy.The plans “provide some hope and optimism for folks and the market and the whole economy. It’s a start,” said Gary Bradshaw, portfolio manager at Hodges Capital Management in Dallas.The news on Boeing, which Bradshaw says his firm owns, has helped lift optimism as well. US stocks rose on Friday, helped by a surge in Boeing shares, President Donald Trump’s plan to reopen the economy and hopes of a potential drug by Gilead to treat COVID-19.Shares of the US planemaker soared on plans to restart commercial jet production in Washington state after halting operations last month due to the coronavirus pandemic.The S&P 500 was up sharply from its March trough and set to gain for the week following a raft of global stimulus and on hopes that statewide lockdowns would be eased as the outbreak showed signs of ebbing.last_img read more

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Governor Wolf Orders Flags At Half-Staff To Honor Life of Richard Schweiker

first_img Flag Order,  Press Release Harrisburg, PA – Governor Tom Wolf today ordered all Pennsylvania flags in the Capitol Complex and at all commonwealth facilities to fly at half-staff to honor former United States Senator and Secretary of Health and Human Services Richard Shultz Schweiker.“Richard Schweiker served Pennsylvania with distinction and grace as a congressman, senator and United States Secretary of Health and Human Services,” said Governor Tom Wolf. “On behalf of all Pennsylvanians, Frances and I extend our condolences to the friends and family of this great public servant.”Schweiker, 89, of Norristown, had a long and storied career of public service, including his service in the United States Navy during World War II. He began his elected service to the country in 1960, representing Pennsylvania’s 13th congressional district in Montgomery County. He served in the United States Senate from 1969 until 1981.In 1981, Schweiker was sworn in as the 14th Secretary of Health and Human Services. He retired in 1983 after 22 years of public service.State flags shall remain at half-staff until interment. Governor Wolf Orders Flags At Half-Staff To Honor Life of Richard Schweiker August 04, 2015center_img SHARE Email Facebook Twitterlast_img read more

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It’s better for administrators to step aside than players – Viv continues WICB attack

first_imgFORMER West Indies captain Viv Richards has continued his criticism of regional cricket administrators insisting that it is more beneficial to the game for officials to step down than players to be left out of the team.In recent years, frequent disputes between the West Indies Cricket Board (WICB) and numerous players, combined with various pieces of legislation, have left several players unavailable for selection. Richards, who recently chided the WICB for its role in what he believes to be the alienation of players, has continued the attack.“We have issues with our administrators. We have players defecting … they don’t want to represent their country anymore. They go for the easiest process … all the leagues around the world. There is too much infighting in terms of players versus administration. So there must be a reason for individuals to divert their interests. There is a huge problem there,” Richards said.“There are personality issues at administrators’ level which have gone to an all-time high in my opinion. They should start governing the game properly for which they are elected. In our society there is no one who has respect, if he has failed to do something … and so why not eliminate them from the whole administrative process?There has to be a change. I don’t know, if that’s all because of money. But it’s been going on for too long. No one is willing to say: ‘Okay we have failed in this and that: let me resign.’ I guess sometimes, that it’s too attractive and lucrative for individuals at that particular level to let go.”Chris Gayle, Darren Bravo, Dwayne Bravo and Kieron Pollard number among those missing for the West Indies at various points, often opting to take part in various T20 leagues around the world.last_img read more

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