compared with standard care. Shares of Gilead jumped 2% in premarket trading following the announcement, and the broader futures market also pared losses. —Wall Street analysts continued to back Big Tech on Friday, with Amazon and Netflix receiving
that showed double-digit upside. Both stocks have soared this year, helping tech outperform the rest of the market. Netflix is slated to report quarterly earnings next week.Shares of some of the nation's largest technology and communications companies are responsible for the Nasdaq Composite's relative outperformance versus the S&P 500 and Dow this week.
Tom Essaye, editor of the Sevens Report, said Friday that even the S&P 500 has held onto its week-to-date advance in large part thanks to Microsoft, Amazon and Apple. He and others have noted that investors may prefer these stocks for their demonstrated ability to post earnings even when the broader economy is weak.
"Those three stocks have accounted for the vast majority of the S&P 500's outperformance over the past month . Without them, the S&P 500 would look a lot more like those other indices and the 10-year yield, i.e., cautioning on future economic growth," he wrote. —A German biotech firm said it has a coronavirus vaccine that will be ready for approval by the end of the year.
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