US stocks rose strongly yesterday, in anticipation of an effective drug to treat the emerging coronavirus (Covid 19), which triggered a widespread rally and encouraged investors to ignore grim data GDP and warning words from Jerome Powell, Federal Reserve Chairman.

Global sentiment was bolstered by the US drug maker's Gilead Sciences said its experimental anti-viral drug, RMDSIVER, helped improve symptoms in Corona patients who received the drug early.

The Dow Jones industrial average rose 527.85 points, or 2.19%, to 24629.4 points, and the S&P 500 index increased by 76.17 points or 2.66%, recording 2939.56 points, The combined Nasdaq advanced 306.98 points, or 3.57%, to 8,914.71 points.

European stocks also rose yesterday, as positive developments towards the expected treatment of the virus reinforced a wave of rally in banks and oil companies, while AMS sensors jumped after the results Powerful.

The European Stoxx 600 index closed 1.8% higher, with Airbus shares rising 10% even as its quarterly profits tumbled.

Airbus maker Airbus shares posted their session highs after US rival Boeing announced quarterly losses.

The shares of oil giants BP, Total and Royal Dutch Shell rose more than 3%, with crude prices higher thanks to an unexpectedly increased increase in US stocks.