Last week US stocks were mixed with small caps outperforming large caps. The early part of the week brought a healthy rally as investors were buoyed by news that Gilead's drug remdesivir had performed well in its large clinical trail; by week's end the FDA had approved its emergency use. Sentiment also rose as some states began to partially lift lock down orders and the infection/hospitalization trends appeared to be moving in a downward trajectory. However, stocks retreated later in the week as bleak economic data revealed the toll the virus has already taken on US citizens. Approximately 18% of the working population are now unemployed, manufacturing reached its lowest level since 2009 and the economy contracted by 4.8% in the first quarter.