This News Has Foot Locker Stock Running Higher Today

Foot Locker, Inc. (NYSE: FL) shares are up almost 9% just before 3 p.m. EDT on April 29, having cooled off a little after surging nearly 10% earlier in the day. Like other retailers that focus on discretionary consumer goods, high hopes for a treatment for COVID-19 have investors looking at the company as a potential winner once the economy opens back up.

A potential anti-viral treatment for the novel coronavirus that causes COVID-19 could be a big boost in efforts to arrest the spread of this deadly disease. Gilead Sciences (NASDAQ: GILD) said a trial of remdesivir being run by the National Institutes of Allergy and Infectious Diseases, or NIAID, reached its endpoint, and separately reported that one of the trials it was running produced positive results.

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Source Fool.com