Gains, Gains, Gains! – Wednesday review, April 29

Gains, Gains, Gains! – Wednesday review, April 29

After a disappointing Consumer Confidence report, the market rejoiced once Gilead announced that it is one step closer to a successful treatment against the novel virus.

The US

Gilead’s statement put Wall Street to work. All benchmarks rallied. USA30 gained 2.09%, while USA500 rose 2.54%. TECH100 added 3.33%.

Oil was up 14.3% to trade at $17.35 per barrel. Brent Oil gained 10.3% to $24.87.

Gold stood still at $1, 710.86 per ounce.

ICE was at 99.584.


Asia and Australia

Good news travels fast across the ocean. The successful trial and the slowing increase in the number of cases impacted the market. Japan225 jumped 2.8%, reaching a seven-week high. Australia's ASX gained 2.7%.

USD/JPY traded higher at 106.56.

AUD/USD was $0.6557.


Europe

In Europe, besides the hype that Gilead created, stocks gained pending the ECB meeting. Europe expects a new stimulus to keep the economy afloat. Europe50 and UK100 gained more than 1% each. Germany30 added 2.89%, while France40 went up 2.22%.

EUR/USD traded higher at $1.0862.


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Sources: cnbc.com, investing.com, reuters.com

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