U.S. equity markets soared Wednesday as upbeat news about a potential coronavirus treatment from drugmaker Gilead Sciences helped offset a larger-than-expected drop in first-quarter gross domestic product. The U.S. economy contracted 4.8 percent in the first quarter, according to an advanced reading from the Commerce Department, outstripping the 4 percent drop that economists surveyed by Refinitiv were expecting. The negative print was the first in six years and the biggest since the financial crisis. source