Stocks in the Dow Jones, Nasdaq, and S&P 500 are all up today despite several major city streets in the U.S. being filled with protestors fighting racial injustice and police brutality. This further highlights the disconnect between Main Street and Wall Street. America has millions unemployed, protestors filling the street, and a contagious virus we haven't defeated but the stock market was up today.
TheStreet's Katherine Ross discussed today's breaking news in the stock market on StreetLightning with Jim Cramer. Cramer discusses how the protests in America affect Wall Street, Gilead Sciences Covid-19 drug disappoints, and Coty's new CEO.
Will Civil Unrest Ever Come to Wall Street's Door?
Should Wall Street worry about the civil unrest in Amerca? Will the press releases expressing solidarity with the black community amount to any positive change? Although there seems to be a disconnect between Wall Street and Main Street, Cramer says it will be up to the leadership of companies.
Listen to how Cramer reflects on the current events in America and how Wall Street fits in.
Gilead Sciences Drug Disappoints
Unfortunately, the recent Covid-19 drug trial by Gilead Sciences (GILD) - Get Report produced disappointing results. The results were not statistically significant despite some improvements in patients after eleven days.
Cramer's concern is how do we produce a drug that gets people out of the hospital? Listen to Cramer's response to the recent Covid-19 drug trial by Gilead Sciences.
Coty Stock: Buy or Sell?
Coty just hired a new CEO, Peter Harf who was previously the chairman of the company. Leadership changes at companies can spark the stock to rise if the struggles are manageable and are met head-on.
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