Stocks rise at the open on coronavirus treatment hopes

U.S. stocks opened modestly higher Friday, buoyed by encouraging news about a coronavirus treatment. The Dow Jones Industrial Average DJIA, +0.75% rose 14 points, 0.1%, to open near 25,720, while the S&P 500 SPX, +0.35% was up less than a point, trading near 3,153. The tech-heavy Nasdaq Composite COMP, -0.05% was less than one point higher, near 10,549. Gilead Sciences Inc.

said in a report published Friday that its antiviral drug remdesivir reduced the risk of death for coronavirus patients by 62% compared with standard care alone. Friday's early gains come after a up-and-down week for the stock market, which has been caught between reports of rising COVID-19 cases and some economic data that has been better than expected. On Thursday, the U.S. Labor Department said that first-time applications for jobless benefits fell, but remain high.

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