FT News Briefing Trump’s reopening plan, coronavirus drug report, Macron on EU solidarity
Apr 17, 2020
President Trump reveals new guidelines for reopening the US economy while stock futures soar due to promising results from a coronavirus drug trial. Meanwhile, French President Macron issues a dire warning about the EU's future, urging wealthier nations to support struggling economies like Italy. Additionally, Gulf sovereign wealth funds are pivoting to seize undervalued assets as global markets shift. It's a compelling look at economic resilience amid crisis.
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Positive Drug Trial Boosts Market
- US stock futures rose nearly 3% after a report on Gilead's remdesivir.
- The drug showed promise in treating coronavirus, exciting investors.
Trump Softens Reopening Stance
- President Trump retreated from his stance on reopening the US economy quickly.
- He issued guidelines for states to decide when to lift restrictions.
Macron's Warning on EU Solidarity
- French President Macron warns of EU collapse if richer states don't aid others.
- He believes the EU needs to support struggling economies like Italy's.