THE CORONAVIRUS pandemic has shut down much of the U.S economy, leading to protests demanding an end of restrictions on business and other aspects of daily life. Above, demonstrators in downtown Orange on Monday (Shutterstock).

Stocks and hopes rose on Wednesday as the first effective treatment against the coronavirus was announced.

The experimental drug, remdesivir, could be the solution to not only stop the spread of the illness, but also provide an opportunity to re-open the staggering U.S. economy.

“What it has proven is that a drug can block this virus. This will be the standard of care,” said Dr. Anthony Fauci of the White House coronavirus task force, according to the Associated Press.

A trial shows that the drug improved recovery time from 15 to 11 days and reduced the mortality rate, according to CNN. The Food and Drug Administration has announced it would make an emergency authorization in order to make remdesivir available quickly to the public.

In reaction to the news, the stock markets surged. The Dow Jones Industrial Average rose by over 550 points, reversing Tuesday’s declines.

The federal Bureau of Economic Analysis showed a drop in the gross domestic products of 4.8 percent in the January to March interval and the Congressional Budget Office is estimating the economy will decline at a 40 percent annual rate in the April-May-June period.

NCAA boards endorses cash for athletes

University and college athletes in high profile sports help bring in millions of dollars a year to their schools, but are not paid … at least not legally.

On Wednesday, the National College Athletic Association’s Board of Governors announced that it was supporting a plan that would allow athletes to make money off their name and images.

If the membership approves the proposal, it would take effect no later than the 2021-22 academic and athletic year, according to the AP.

California has already passed a law banning NCAA schools from keeping athletes from benefitting financially from endorsements, advertising and other uses of their names and appearance.

Coronavirus deaths near quarter-million

Even as the prospect of medical treatment for the coronavirus raises hopes, the total number of deaths and confirmed cases rises worldwide.

According to the count compiled by Johns Hopkins University, the total deaths as of Wednesday are at 227,368, led by the United States with 61,361.  About 24,000 of those are in the New York-New Jersey area.

The number of confirmed cases across the planet is now at 3.17 million.

––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––