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Wall Street moves forward thanks to Boeing and hopes for drug for Covid-19

Wall Street moves forward thanks to Boeing and hopes for drug for Covid-19

Wall Street moves forward thanks to Boeing and hopes for drug for Covid-19
Boeing shares soared nearly 15% over its plan to resume production of commercial aircraft next week in Washington state, after halting operations last month due to the COVID-19 pandemic.

The Nasdaq climbed 6.1% during the week and posted its largest percentage increase in a two-week span since 2001.


Wall Street rose on Friday and closed the week with gains, helped by an increase in Boeing shares, President Donald Trump's plan to reopen the US economy and hopes of a possible Gilead drug to treat COVID- 19.

  • The Nasdaq climbed 6.1% during the week and posted its largest percentage increase in a two-week span since 2001.
  • Boeing shares soared nearly 15% over its plan to resume production of commercial aircraft next week in Washington state, after halting operations last month due to the COVID-19 pandemic.
  • Some states in the United States would announce a timetable to lift the restrictions imposed by the coronavirus, a day after Trump released guidelines on a gradual reopening of the battered economy.
The plans “provide some hope and optimism for the people and the market and for the entire economy. It's a start, ”said Gary Bradshaw, portfolio manager at Hodges Capital Management in Dallas.
  • The plans “provide some hope and optimism for the people and the market and for the entire economy. It's a start, ”said Gary Bradshaw, portfolio manager at Hodges Capital Management in Dallas.
  • Gilead Sciences Inc climbed nearly 10% after a press report that patients with severe symptoms of the disease responded positively to an experimental drug, remdesivir.
  • The Industrial Average rose 704.81 points, or 2.99%, to 24,242 units; the S&P 500 gained 75.01 points, or 2.68%, to 2,874.56 units; and the Nasdaq Composite added 117.78 points, or 1.38%, to 8,650.14 units.

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