Gilead Sciences Inc's shares surged 16% in after hours trading on Thursday following a media report detailing encouraging partial data from trials of the U.S. company's experimental drug remdesivir in severe COVID-19 patients.
President Donald Trump's plan for reopening the U.S. economy following the novel coronavirus pandemic "makes sense" and is consistent with the advice of health experts, Minneapolis Federal Reserve Bank President Neel Kashkari said in an interview with Fox News Channel on Thursday.
U.S. House Speaker Nancy Pelosi on Thursday called President Donald Trump's guidelines for reopening the economy "vague and inconsistent" and said more coronavirus testing needed to be done.
The majority of American companies in China have no plans to relocate production or sourcing activities to other parts of the country or abroad due to the coronavirus, a survey showed on Friday.
Morgan Stanley Chief Executive Officer James Gorman told shareholders on Thursday he "can promise" the bank will miss its medium-term financial targets again in the current quarter, as the economic shutdown caused by the novel coronavirus will continue to upend the global and U.S. economy.
Oil prices rose on Friday with Brent gaining nearly 3% after President Donald Trump laid out guidelines on reviving a U.S. economy ravaged by the coronavirus pandemic that has punched a huge hole in global demand for crude and refined products.
China's daily crude oil throughput in March hit the lowest level since December 2018 with state refiners maintaining deep output cuts as the coronavirus pandemic eroded fuel demand.
China's economy shrank 6.8% in January-March from a year earlier, official data showed on Friday, the first such decline since at least 1992 when quarterly gross domestic product (GDP) records began.
China's economy shrank for the first time since at least 1992 in the first quarter, as the coronavirus outbreak paralysed production and spending, raising pressure on authorities to do more to stop mounting job losses.
Southwest Airlines Co has approached unions representing pilots, flight attendants, mechanics and other employees to discuss potential concessions to prepare for a slow industry recovery, a company official told Reuters on Thursday.
China's long-term growth potential will not be affected by the short-term impact of the coronavirus pandemic, a spokesman for the National Bureau of Statistics said on Friday.
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China's economic performance in the second quarter of this year is expected to be much better than in the first, the National Bureau of Statistics said on Friday.
Real estate investment in China fell 7.7% in the first three months of 2020 from a year earlier, official data showed on Friday.
China's industrial output fell a less steeper-than-expected 1.1% in March from a year earlier, data from the National Bureau of Statistics showed on Friday, as the coronavirus crisis and strict containment measures severely disrupted the world's second-largest economy.