Wall Street fueled by the hope of a recovery of the economy

Wall Street portée par l’espoir d’une reprise de l’économie

The New York stock Exchange has finished the week on a positive note Friday, driven by positive signals on a next reopening of the u.s. economy and a test on a possible treatment of the COVID-19.

Its index feature, the Dow Jones Industrial Average rose 2.99% to 24 242,49 points and the Nasdaq, in high coloring technology, has appreciated 1.38% to 8650,14 points.

The S&P 500, which represents 500 largest companies of Wall Street, has increased of 2.68%, to 2874,56 points.

The major indices of the square in new york displayed to the passage up to the second week in a row: the Dow Jones has recorded a weekly advance of 2.2%, the Nasdaq up 6.1% and the S&P 500 of 3.1%.

A stream of indicators has yet confirmed this week that the economic damage caused by the pandemic of COVID-19 and the restrictive measures imposed to attempt to stop its spread.

Last date: the gross domestic Product of China collapsed by 6.8% in the first quarter.

But Friday, the dealers have been made serene by the information of the publication Stat News according to which the first results of a study on a drug from the laboratory Gilead (whose price has jumped by 9,73%) for patients with severe cases of Covid-19 were promising. Many analysts were encouraging, however, caution about the results, still very preliminary.

The enthusiasm of the market actors has also been fueled by the presentation by the White House Thursday evening a plan on how to restart America.

The decision of the removal of restrictions or containment more or less strict decreed in order to stem the pandemic would last spring to the governors of the 50 States. But the executive has developed recommendations for the ” guide “.

“The return to “normal” of the economy will be gradual, and the market usually does not like too much this notion of progressiveness. But with the latest headlines, investors seem to glimpse a light at the end of the tunnel, ” said JJ Kinahan of TD Ameritrade.

Other signal optimistic: Boeing announced Thursday a gradual recovery, as early as next week, its production of commercial aircraft in the United States, after a break of several weeks. Its title has jumped out of 14,72%.

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