U.S. stocks rose and posted gains for the week, helped by a surge in Boeing shares, President Trump's plan to reopen the coronavirus-battered economy and hopes of a potential drug by Gilead to treat COVID-19
- U.S. stocks rose on Friday and also posted gains for the week, boosted by a surge in Boeing shares, President Donald Trump’s plan to reopen the coronavirus-battered economy and hopes of a potential drug by Gilead to treat COVID-19.Boeing shares soared nearly 15% on plans to restart commercial jet production in Washington state after halting operations last month due to the COVID-19 pandemic.
With no treatments or vaccines currently approved for the coronavirus, the news helped lift global equity markets. But Gilead said the totality of the data from the trial needed to be analyzed, and it expected to report results from a study testing the drug in severe COVID-19 patients at the end of April.
The S&P 500 is up nearly 30% from its March trough following a raft of global stimulus and hopes that the spread of the virus was nearing a peak in the United States.
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