Wall St. ekes out gains on Boeing surge, hopes of pandemic drug trials


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Wall St. ekes out gains on Boeing surge, hopes of pandemic drug trials

On Friday, the 17th of April 2020, all three key indices of Wall St. had wrapped up the day in a robust tone and reported a weekly gain, buoyed up by an upsurge in Boeing stocks which was bolted out of the blue alongside growing optimism over a novel antiviral drug Remdesivir to treat the pandemic outbreak in the United States following reveal of a fairly upbeat human trial data.

On top of that, followed by an all-time closing high of Amazona and Walmart with Nvidia shares surging intransigently after China’s approval of $6.7 billion Mellanox buy, the tech-heavy Nasdaq had winded down the week with a weekly gain of 6.1 per cent and had scored its largest two-week percentage gain in nearly two decades.

Besides, adding a material comfort to trade-sensitive Dow, Boeing gained as much as 15 per cent on Friday’s (April 17th) Wall St. closure following reveal of a report that the Illinois planemaker would reopen its Washington plant as early as by next Monday (April 20th), while shares’ prices of Gilead surged 10 per cent following a report that its experimental drug Remdesivir had responded positively to the critically ill pandemic patients.

Citing statistics, on Friday’s (April 17th) market closure, Dow surged 2.99 per cent to 24,242.49 and S&P gained 2.68 per cent to 2,874.56, while Nasdaq rose by 1.38 per cent to 8,650.14.