The Dow Jones closed the session this Friday to rise 2.99% to 24,242.49 points, thus returning to the level of 24,000 points, and the Standard & Poor’s 500 advanced 2.68% to 2,874.56 points.
For its part, the technological Nasdaq Composite added 1.38% to settle at 8,650.14 points.
Although the S&P 500 is still 16% below its historic maximum reached on February 19, it has already risen close to 27% since its low set on March 23 - when the selloff due to fears surrounding the covid-19 pandemic made the markets hit bottom.
This was thus the second consecutive week of gains on Wall Street, which has not happened since the beginning of February.
However, the uncertainty is still huge, so it may take a few more months to find out if the market has in fact reached its minimum.
The Nasdaq Composite has only dropped by around 5% in the year, when it fell by 30% between its highest and lowest closing value in the 2020 stock market trading, stresses CNN Business.
The Dow has lost more than 16% since the beginning of the year, but recovered 28% compared to the lows at the end of March.
The resumption of the stock market appears to be gaining a V shape, but BMO Financial Group chief economist Douglas Porter told CNN that it may be premature to think that the worst is over, as there is still much economic impact of the coronavirus by investigate.
In today's session, investors were encouraged by the prospect of a phased reopening of the economy, following the guidelines given yesterday by the American president. Donald Trump presented three phases, which must obey six criteria, for the States to resume the economic activities to their measure.
On the other hand, Gilead Sciences announced that one of its drugs is showing signs of effectiveness, in clinical tests, as a potential treatment for covid-19, which helped optimism.
People infected with the new coronavirus who are being medicated with remdesivir have been recovering quickly, with the majority going home in a matter of days, STAT News reported.
The announcement had a boosting effect on Gilead shares, which closed at a 9.73% jump to $ 83.99.
The fact that China's economy contracted by 6.8% in the first three months of the year stopped the upward momentum in the last session of the week in the USA.
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