News Travels (Too) Fast?
Dear Rundown Reader,
Yesterday, we asked readers if they believe the media have added to pandemic hysteria. Here’s a sample of readers’ opinions…
“The media have totally fed the panic and tried to keep the coronavirus front and center of everyone’s lives! Suddenly, there is no other news happening in the world because it is pretty much coronavirus 24/7.”
And color us intrigued by our next contributor’s response: “In 1960, I was in a position to learn firsthand that the news media — at that time — was essentially U.S. government propaganda, just that and nothing more.
“I believe the news media today with its ‘instant coverage’ is influenced less by the government, but there is still some propaganda going around.
“That said, I am grateful to receive up-to-date information on Covid-19 to learn how to keep my family safe during this crisis.”
Friday, we’ll share more of your opinions concerning the role of the media amidst the pandemic.
Send your opinions to, TheRundownFeedback@SevenFigurePublishing.com.
Your Rundown for Wednesday, Apr. 29, 2020
Gilead and GDP
In January, The Rundown recommended American biotech Gilead Sciences, Inc. (GILD) to round out your portfolio — especially if you’re an income investor looking for a strong dividend. At the time, we noted GILD’s quarterly dividend yield of almost 4%.
Then almost two weeks ago, we mentioned a drug trial for severely ill COVID-19 patients using Gilead’s antiviral drug remdesivir. All the evidence was anecdotal — but still promising.
Kathleen Mullane of the University of Chicago said of the drug trial: “We do see when patients do come in with high fevers, they do [reduce] quite quickly. We have seen people come off ventilators a day after starting therapy. So, in that realm, overall our patients have done very well.”
And this morning, Gilead provided an update. “The data suggest remdesivir is likely approvable and should have a role in certain corona subpopulations,” says RBC analyst Brian Abrahams.
“Remdesivir effect size details will be key and we would not anticipate… it will necessarily be dramatic, but any benefit should contribute to helping manage the ongoing crisis.”
And Barron’s reports: “Gilead says that a study met its primary goal, and that has the market soaring again.”
These are dark days, and people (including investors) are grasping at any shred of hope; that might be why the Dow’s rallied about 450 points this morning on Gilead’s news.
But we hate to be a downer, GILD’s announcement has overshadowed more important news that first quarter GDP has contracted 4.8%. One can only imagine what’s to come in the second quarter when the real impact of the coronavirus makes itself known.
Market Rundown for Wednesday, Apr. 29, 2020
The S&P 500 Index is up 62 points to 2,925.
Oil’s up 26% to $15.54 for a barrel of West Texas crude.
Gold is down $5.70 to $1,716.50 per ounce.
Bitcoin’s rallying — up $524.33 to $8,296.54.
Send your comments and questions to, TheRundownFeedback@SevenFigurePublishing.com.
Thanks for reading, and we’ll have more for you Friday.
For the Rundown,