{"id":163385,"date":"2020-04-23T21:30:45","date_gmt":"2020-04-23T21:30:45","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=163385"},"modified":"2020-04-23T22:22:44","modified_gmt":"2020-04-23T22:22:44","slug":"disappointing-gilead-drug-report-snuffs-thursday-rally","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/disappointing-gilead-drug-report-snuffs-thursday-rally\/","title":{"rendered":"Disappointing Gilead drug report snuffs Thursday rally"},"content":{"rendered":"

Toronto and New York indices were rallying until midday Thursday when “inconclusive” results were released about Gilead’s COVID-19 treatment. Many investors were betting on the drug, remdesivir<\/a>, after trial results were mistakenly published on the World Health Organization’s website earlier this month. Gilead<\/a> tumbled 4.34%. The main New York indices closed flat, and the TSX shed 0.26%.<\/p>\n

In Toronto, only energy and materials finished in the green, as oil continued to rebound from historic lows early this week. Paramount Resources<\/a> was the biggest gainer, soaring 30% and led a big pack of oil names that included Cenovus Energy<\/a>, rallying almost 7% in heavy trading. WTI and WCS continued to climb, both rising $3 to $17 and $8 (respectively) per barrel.<\/p>\n

Likewise on Wall Street, Schlumberger<\/a> climbed 7.69%. Meanwhile, investors continue to hunger for food stocks as Beyond Meat<\/a> jumped 12.8%. Otherwise, on the Dow healthcare, energy and industrials gained. For once, tech stocks had a quiet, flat session. After hours, Intel<\/a> dropped 5% on a negative earnings report. Given this relatively quiet session, the VIX slipped modestly by -1.43%, which is welcome news to investors rocked by wild swings in the past two months.<\/p>\n

🧫 Gilead Sciences Inc.<\/a> -4.34%
\n🛢 Paramount Resources<\/a> +30%
\n🛢 Cenovus Energy<\/a> +7%
\n🛢 Schlumberger Ltd.<\/a> +7.69%
\n🥩 Beyond Meat Inc.<\/a> +12.8%
\n💽 Intel<\/a> -5%<\/p>\n","protected":false},"excerpt":{"rendered":"

Toronto and New York indices were rallying until midday Thursday when “inconclusive” results were released about Gilead’s COVID-19 treatment. Many investors were betting on the drug, remdesivir, after trial results were mistakenly published on the World Health Organization’s website earlier […]<\/p>\n","protected":false},"author":12,"featured_media":345019,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[],"class_list":["post-163385","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/163385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=163385"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/163385\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/345019"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=163385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=163385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=163385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}