Stocks signal big rally Friday on Gilead’s coronavirus treatment and Boeing’s production restart

Trump: Some states may reopen tomorrow

President Trump says states will reopen at different times and argues sports will be enjoyed via television until coronavirus is completely gone.

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U.S. stock futures are signaling a strong start to Friday's session adding to the momentum seen on Thursday.

The Dow Jones Industrial Average soared nearly 900 points or 3.7 percent while the S&P 500 was higher by over 3 percent and the Nasdaq Composite 2 percent plus as of 10 p.m. ET.

Earlier in the evening, President Trump outlined the early-stage, phase approach as part of the  “Opening Up America Again" coronavirus come back plan and there was also positive news on Gilead Sciences.

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Its drug remdesivir, according to Statnews.com, showed effectiveness for treating COVID-19 patients. Shares of Gilead rose over 10 percent in the extended session.

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And Dow member Boeing was rising nearly 8 percent in the extended session after announcing plans to resume commercial airplane production in Washington State.

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The late-day gains Thursday build on what was a positive day for stocks in the regular session despite more grim unemployment numbers.

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The Labor Department reported initial jobless claims totaling 5.25 million for the week through April 11, worse than the 5.1 million that economists surveyed by Refinitiv were anticipating. The data raises the number of first-time filings due to disruptions from COVID-19, including stores closing and factories idling, to about 22 million.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 23537.68 +33.33 +0.14%
SP500 S&P 500 2799.55 +16.19 +0.58%
I:COMP NASDAQ COMPOSITE INDEX 8532.362524 +139.19 +1.66%

Despite those figures, the blue-chip Dow Jones Industrial Average rose nearly 33 points, or 0.12 percent, while the broader S&P 500 gained 0.57 percent and the tech-heavy Nasdaq Composite gained 1.66 percent led by big-cap tech names including Amazon, Netflix and Microsoft.

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Ticker Security Last Change Change %
AMZN AMAZON.COM INC. 2,408.19 +100.51 +4.36%
NFLX NETFLIX INC. 439.17 +12.42 +2.91%
MSFT MICROSOFT CORP. 177.04 +5.16 +3.00%

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