Wall Street jumps on hopes of potential coronavirus drug

FILE PHOTO: The floor of the New York Stock Exchange (NYSE) stands empty as the building prepares to close indefinitely due to the coronavirus disease (COVID-19) outbreak in New York, U.S

U.S. stocks opened higher on Wednesday after Gilead Sciences (GILD.O) gave an encouraging update on a potential COVID-19 treatment, while upbeat earnings reports from Boeing and Google-parent Alphabet added to the sentiment.

The Dow Jones Industrial Average .DJI rose 388.82 points, or 1.61%, at the open to 24,490.37. The S&P 500 .SPX was up 59.47 points, or 2.08%, at 2,922.86. The Nasdaq Composite .IXIC gained 194.97 points, or 2.27%, to 8,802.70 at the opening bell.

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