(Reuters) – Investors are pinning their hopes for the reopening of the U.S. economy on the potential for wider availability of testing for COVID-19 cases and on drug trials for treatments of the deadly disease but said, until there is concrete progress in these areas, further stock market gains may be limited.


Much of the S&P 500’s .SPX almost 27% advance above its March 23 low has been due to hopes that massive U.S. fiscal and monetary support would dampen the economic blow from stay-at-home orders designed to contain the coronavirus pandemic.

But recently, the index has reacted to reports about trials and in particular Gilead Science’s (GILD.O) remdesivir experimental treatment for COVID-19, the respiratory illness caused by the new coronavirus. Remdesivir, which previously failed as a treatment for Ebola, is designed to keep a virus from replicating and overwhelming a patient’s immune system.



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