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MarketScreener Homepage  >  Indexes  >  USA  >  S&P 500    SP500

S&P 500

(SP500)
Delayed Quote. Delayed USA - 08/12 05:10:33 pm
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Gilead sparks Wall Street rally

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07/10/2020 | 03:41pm EDT

Positive results from Gilead's COVID-19 drug remdesivir injected momentum into the markets Friday. That offset concerns over yet another record rise in coronavirus cases in the U.S.

RiverFront Investment Group chief investment strategist Chris Kostantinos:

"I think the remdesivir news points to the idea that if we can just get back to some semblance of normal which I think is what he market is trading off of. And I think that's why people were so focused on that news today."

In a trend reversal, the Dow and S&P 500 gained more than 1% Friday, outperforming the Nasdaq which ended at another record high.

But for the week, the Nasdaq was the winner with a huge 4% advance.

As for Gilead, its shares rose 2%. A late-stage study showed its treatment, remdesivir, significantly improved clinical recovery and reduced the risk of death in COVID-19 patients.

Carnival jumped nearly 11%. The cruise line operator plans to restart operations in a phased manner.

The high-flying "stay-at-home" stock Netflix spurted higher after Goldman Sachs lifted the price target on the video streaming company.

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 1.05% 27976.84 Delayed Quote.-1.97%
NASDAQ 100 2.59% 11157.722277 Delayed Quote.24.54%
NASDAQ COMP. 2.13% 11012.238958 Delayed Quote.20.18%
S&P 500 1.40% 3380.35 Delayed Quote.3.19%
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ADVANCED MICRO DEVICES, INC. 82.61 Delayed Quote.7.45%
QUALCOMM, INC. 115.79 Delayed Quote.6.40%
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