(17 April 2020)DAILY MARKET BRIEF 1:Equities up

<p>The sell-off in US and European markets lost pace despite less than ideal economic data, with major indices closing the day on a positive note. Nasdaq (+1.66%) stood out again, as demand in technology stocks remained strong. Biotech jumped 4.4% in after-trading hours, as Gilead, an American biotech company, said it may have found an efficient drug to treat coronavirus.</p>
<p>On the data deck, news was mixed. Additional 5 million Americans applied for jobless claims last week, but the latest number was a touch less than expected and lower than the past weeks’. The Philly Fed manufacturing index on the other hand tanked to a rock-bottom low, hinting that the business sentiment is clearly deteriorating, and the data will certainly get worse in April before it starts getting better.</p>
<p>In Japan, the industrial production unexpectedly declined 0.3% in February.</p>