"Gilead Sciences announced new findings Friday that its antiviral drug remdesivir reduced the risk of death for severely sick coronavirus patients by 62% compared with standard care alone, saying more research is needed," according to a report by CNBC.
Investment Advisor Mark Grywacheski got into the news Monday, July 13th. He discussed how the breakthrough impacted the stock market Friday, after what was both a good and bad week in the market, according to him.
He says the number of COVID-19 cases rising along with possible treatments for the coronavirus are causing choppiness in stock prices. He says we'll be in this extended time frame where we get bad news on case numbers and good news on treatments that impacts the stock market.
"Also, keep in mind, we have an upcoming 2020 presidential election, which will likely add even more volatility to the stock market, so investors, hold on tight."
Your Money with Mark airs every Monday during Good Morning Quad Cities, in between 5 and 5:30 a.m.