Tesla poised to electrify S&P 500 – Reuters

Tesla (NASDAQ:TSLA) appears on the verge of joining the S&P 500, Reuters reports, a move that would unleash a flood of new demand for the company’s shares which already have surged 500% over the past year.

‘Earnings hell again’ for banks’ 2Q earnings, Mike Mayo says

Well Fargo bank analyst Mike Mayo, in an interview on CNBC and a response to a question about whether loss provisions will be higher this time around, noted that with 2Q earnings season on the docket for next week, you can expect a worse result for banks than 1Q.

Biotech IPO Nkarta triples in debut

Nkarta (NASDAQ:NKTX) had a big IPO, upsizing the number of shares sold to 14M from 10M. It also priced at $18 vs. the expected range of $16-$17. The offering raised $252M.

Gilead’s remdesivir cut mortality risk 62% in COVID-19 study

Gilead Sciences (NASDAQ:GILD) reports additional data on remdesivir that includes a comparative analysis of the Phase 3 SIMPLE-Severe study and a real-world retrospective cohort of severely ill COVID-19 patients. The results are being presented virtually at the 23rd International AIDS Conference.

Futures dip after another Nasdaq record

The tech-heavy Nasdaq on Thursday closed at a new all-time high led by gains from Microsoft and Amazon, while the Dow and S&P 500 closed lower on disappointing earnings from Walgreens.

IEA sees improved oil demand, but COVID-19 clouds outlook

“While the oil market has undoubtedly made progress… the large, and in some countries, an accelerating number of COVID-19 cases is a disturbing reminder that the pandemic is not under control and is casting a shadow over the outlook,” the IEA wrote in its closely-watched monthly report.