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Photo: Bloomberg |
The main New York Stock Exchange indices closed the session on Friday in green territory after investors turned their attention to the prospects of a possible drug for the coronavirus developed by Gilead Sciences, CNBC reported.
Blue chip index Dow Jones Industrial Average It increased by 260.01 points, or 1.11%, to 23,775.27 points. The wide meter S&P 500 added 38.94 points, or 1.39%, to 2836.74 points while the technology indicator Nasdaq compound recorded an increase of 1.65%, or 139.77 points, to a level of 8634.52 points.
However, weekly, the Dow reported a 2.5% decline. The S&P 500 fell by more than 1%. The Nasdaq has amortized 0.8%.
On Thursday, investor sentiment was affected by a message from the Financial Times that a drug developed by Gilead Sciences does not improve the condition of patients with coronavirus. FT cites documents published by the World Health Organization in a Chinese clinical trial.
For his part, Gilead noted that the study “ended prematurely due to low participation,” which left him “unable to provide statistically significant conclusions.”
On Friday, Reuters announced that the Remedivir development, sponsored by the United States government, is progressing faster than expected. The report said the poll results could be ready by mid-May. Gilead’s shares rose more than 2% after the announcement.
The values of the main stock indices have increased more than 25% since the end of March, and the S&P 500 recovered almost half of the positions subtracted from the recessions since the peak of February 19.
The President of the United States, Donald Trump has signed the latest stimulus package to combat the economic impact of the $ 484 billion coronavirus.
The bill provides $ 370 billion in small business aid and job support amid the economic blockade. Hospitals are also allocated $ 75 billion to cover costs during the crisis, and $ 25 billion to increase testing for infection.
“The market is getting used to the fact that it may be in late May and perhaps June before the economy reopens,” said Daniel Deming, managing director of KKM Financial. “So the main question now is whether there is enough incentive and enough liquidity to continue to maintain this market structure,” he added.
In bond markets, returns on Children aged 10 and 30 US Treasury securities. USA They were up 0.604% and 1,176% respectively.
In currency trading the dollar index, which measures the strength of US money against a basket of six competing currencies, is at 100.26 points.
The euro it is trading 0.36% at $ 1,082 per euro.
In the oil markets, the price of the international benchmark Brent It goes up 48 cents to $ 21.80 a barrel. At the same time, US light crude oil futures WTI increased 59 cents to $ 17.09 a barrel.
The price of gold decreased 0.13% to $ 1743.20 an ounce.
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