What’s in Today’s Report:
- Is It Finally Time to Rotate Out of Growth and into Value?
Futures are sharply higher thanks to a positive article on a Gilead drug effectively treating coronavirus.
GILD’s drug Remdesivir has been effective in reducing symptoms in a very small (125 people) study at a Chicago hospital, but the news is sending stocks higher. For those interested, a link to the article is here.
Economically, Chinese data was weaker than expected as Q1 GDP fell –6.8% vs. (E) -6.0%.
There are no notable economic reports today so focus will remain on any additional coronavirus information, along with earnings. Some reports we’re watching today include: PG ($1.11), SLB ($0.25), CFG ($1.61).