Dow Jones jumps 527 points on upbeat COVID-19 drug trial, ASX to rise

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Australian shares are set to open slightly higher, boosted by hopes of a faster-than-expected recovery for the US economy and upbeat trial results for a COVID-19 treatment.

Markets were also boosted by reports the Trump administration was preparing another round of stimulus, worth about $US1 trillion, to build infrastructure.The S&P 500 and Nasdaq lifted by 1.9 and 1.8 per cent respectively.

Also lifting the market was news that a cheap and widely used steroid called dexamethasone had become the first drug shown to be able to save the lives of COVID-19 patients, in what scientists said was a "major breakthrough" in the coronavirus pandemic.

 

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First drug proves able to improve survival from COVID-19, trial showsResearchers in England say they have the first evidence that a drug can improve COVID-19 survival: A steroid called dexamethasone reduced deaths by up to one third in severely ill hospitalised patients Good old Dex! Have they carried out a series of experiments or is this just heresay? Great news! I hope the worlds' doctors and hospitals implement these drugs and even hear about them. There is hope!
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Coronavirus update: 'Major breakthrough' as trial shows cheap steroid can reduce COVID-19 death ratesOxford University scientists are hailing the use of cheap and widely used steroid Dexamethasone as a 'major breakthrough' in the treatment of coronavirus after it is found to reduce death rates in COVID-19 patients. Dexamethasone is a potent anti-inflammatory drug. It should be emphasised that it doesn’t kill viruses so people don’t start using it indiscriminately like they did with hydoxychloroquine.
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