US Futures are pointing to a sharply higher open this morning and EU markets up 3% on average after biotech leading company Gilead Sciences reported effectiveness for its corona virus treatment. Also, Boeing joined the rally of good news announcing the reopen of its Seattle plant. Asian markets traded a mixed session after a weaker than expected Chinese GDP reading, down 6.8% for the first quarter of 2020, while the NIKKEI surged 3% in Japan following the news from Gilead Sciences. In the FX markets, the dollar reacted with a strong move higher, that’s for the third day in a row and trading at 100.25 this morning. Commodities reacted negatively to the stronger dollar and the rally in US futures overnight, Gold is trading at $1,710 per ounce this morning, down 1.3% and Silver is trading at $15.35 per ounce, down 1.8%. Oil futures trade in different directions this morning, May contracts traded lower while June contracts traded sharply higher, up 4% and trading at $26.52 per barrel. The May contracts traded lower after the Chinese GDP showed a bigger than expected contraction of the economy, for the first time since 1992.
There is no important news on the agenda Friday, (all times GMT).
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The German DAX and the EURSXX50 are trading 3% higher this morning after positive corona virus drug trials in the US.
Nasdaq futures are pointing sharply higher this morning after biotech company Gilead Sciences posted positive corona virus drug results.
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