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Stocks Rally, Dow Jumps 600 Points On News Of Gilead’s Possible Coronavirus Treatment

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The major indexes were up nearly 3% at the open.

The Dow Jones Industrial Average was up 2.8%, nearly 700 points, at the open, while the S&P 500 gained 2.3% and the Nasdaq Composite rose 1.3%.in its clinical trial of antiviral drug Remdesivir, which showed promising results in treating coronavirus.

The phase 3 trial, conducted at the University of Chicago, found that most patients treated with the drug had “rapid recoveries in fever and respiratory symptoms,” according to the originalThe market also got a boost from the news that embattled airline carrier Boeing, which saw its stock plunge by as much as 75% during the coronavirus sell-off last month, would resume production at its Puget Sound plant. The stock rebounded nearly 9% on Friday morning as a result.

Adding to Wall Street’s optimism about the virus outlook was a White House press conference on Thursday night, in which President TrumpTrump said some states that met criteria for testing and a low number of new cases would be able to reopen “

 

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Next monday, Dow plunges 700 points as treatment is not possible and only works with bats. 📉

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