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BUZZ-U.S. big banks: Up on COVID-19 treatment hopes

Reuters logo Reuters 8/24/2020

** Shares of big U.S. banks rise on COVID-19 treatment hopes

** JPMorgan Chase & Co, Citigroup, Wells Fargo , Bank of America and Morgan Stanley are up over 1.5%, while Goldman Sachs is up 0.7%

** U.S. Food and Drug Administration (FDA) said on Sunday it has approved emergency use of blood plasma for treatment of COVID-19

** FDA said early evidence suggests blood plasma from recovered patients can decrease mortality rate

** Up to Friday's close, S&P banks index was down ~35.7% YTD, while the broader S&P 500 index had risen ~5.2% (Reporting by Niket Nishant in Bengaluru)


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