Research and Ingenuity to Fight Pandemic Bolster Investor Confidence

A scientist looks at protein samples at Novavax labs, one of the labs developing a vaccine for the CCP virus, in Rockville, Md., on March 20, 2020. Andrew Caballero-Reynolds/AFP via Getty Images

WASHINGTON— A record number of Americans have lost their jobs but stocks are rebounding at a historic pace, buoyed by advances in drug treatments and potential vaccines for COVID-19.

Markets continued to move higher last week after Gilead Sciences received emergency-use authorization from the U.S. Food and Drug Administration (FDA) on May 1 for its COVID-19 therapy remdesivir. The drug will be used to treat patients who are hospitalized with severe cases.