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Although the number of COVID-19 cases and the death toll continued to escalate, investors were looking past the gloom. They were apparently hopeful that the planned phased reopening of the economy announced by President Trump would bring life back to normal and businesses resume their prosperous ways. A report that Gilead’s remdesivir drug showed promising results in treating COVID-19 patients also boosted sentiment.
In the past week, equity indices of Chinese companies (CQQQ)(FXI)(MCHI) rallied in line with their U.S. counterparts (SPY)(DIA)(QTEC