Stocks Extend Overnight Gains On Slew Of Positive Fauci Comments

In what is a slightly different tack from his usual role as foil to President Trump's optimism, Dr. Anthony Fauci has made a series of very optimistic statements this morning about the turning point of the pandemic and re-opening the economy sooner than many had feared...

The director of the National Institute of Allergy and Infectious Diseases at the National Institutes of Health, told Fox News that the start of "a turnaround in the fight against the virus could come after this week."

"...now is not time to pull back from efforts such as social distancing to stop the spread of the coronavirus in the U.S.," Fauci added.

Additionally, Fauci told Fox that he thinks the number of U.S. deaths from COVID-19 will end up being less than the original estimates:

“Although one of the original models projected 100- to 200,000 deaths, as we're getting more data and seeing the positive effect of mitigation, those numbers are going to be downgraded,” Fauci said.

“I don't know exactly what the numbers are going to be, but right now it looks like it's going to be less than the original projection.”

The Trump administration is discussing how to reopen the economy but “that doesn’t mean we’ll do it right now,” Fauci says.

Admittedly, global deaths are growing at their fastest pace yet...

But still, US equity futures are rallying on these positive comments...

Next he will claim that hydroxychloroquine is safe for use too?