The end of the week was a green day for the three major U.S. indexes. The Dow Jones Industrial Average (DJIA) skyrocketed 369.21 points (+1.44%) to close at 26,075.30. The NASDAQ Composite went up 69.69 points (+0.66%) to close at 10,617.44, and the S&P 500 went up 32.99 points (+1.05%) to close at 3,185.04.
Stocks on Friday went up on a potential coronavirus treatment, increasing the hope of an economic recovery. Gilead Sciences said that remdesivir showed improvement in clinical recovery and a 62% reduction in the risk of mortality. BioNTech’s CEO told the Wall Street Journal that the company’s coronavirus vaccine could potentially be ready for approach by December.
Tech stocks continued their bullish week. Netflix jumped 8% after Goldman Sachs said that it see a 30% rally for the company over the next 12 months. Amazon also jumped 0.5% after Citi increased its target price to $3,550 per share.
