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California to release another 8,000 inmates early due to coronavirus pandemic | TheHill The HillCalifornia could release up to 8,000 prisoners to prevent coronavirus spread, officials say Fox NewsCalifornia to release up to 8,000 prisoners to curb spread of coronavirus The GuardianCalifornia to release 8,000 prisoners amid coronavirus crisis Los Angeles Times
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Gilead Sciences (GILD, 2.2%) once again helped inject a little life into stocks Friday with the help of its coronavirus treatment remdesivir.
The major indices appeared poised for losses in early trading amid another record surge in U.S. COVID-19 cases, as well as yesterday's comments from Treasury Secretary Steven Mnuchin indicating that the White House wants to cap unemployment benefits in the next round of coronavirus stimulus.
65 Best Dividend Stocks You Can Count On in 2020
However, Gilead announced that an analysis of previously released clinical trial data revealed an "important finding": namely, a 62% reduction in mortality risk in coronavirus patients compared to the current standard of care.
The news was music to Wall Street's ears; financial stocks including JPMorgan Chase (JPM, 5.5%) and Goldman Sachs (GS, 4.5%) contributed to a 1.4% jump in the Dow Jones Industrial Average to 26,075. The S&P 500 finished 1.1% higher to 3,185, while the small-cap Russell 2000 jumped 1.7% to 1,422.
The Nasdaq Composite gained a more modest 0.6%, but that marked a third straight close at record
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Kim Kardashian Is 'Worried' and Super Stressed Over Kanye West's Behavior Amid Presidential Bid Yahoo LifestyleKim Kardashian Reacts To Kanye Slamming Donald Trump In New Interview HollywoodLifeTrump brushes aside Kanye West's presidential aspirations New York PostElon Musk Backtracks On Supporting Kanye West's Presidential Bid AccessKanye West Is 'Struggling' with Bipolar Disorder as Rapper Says He Wants to Be President: Source PEOPLE.com
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 The stalled nomination of Judy Shelton, President Donald Trump's controversial pick for the Federal Reserve, got a potential boost Friday when the Senate Banking Committee announced a July 21 vote on her nomination. Shelton's bid has languished since her confirmation hearing in February amid talk she didn't have enough committee support. Shelton, who was an informal Trump adviser during his presidential campaign, has been a long-time advocate for some form of tying the dollar's value to gold. She faces unanimous opposition from Democrats and some Republicans were on the fence. The committee will also vote on a second Trump Fed nominee, Christopher Waller, the director of research at the St. Louis Fed. Waller is expected to be confirmed easily.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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