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S&P 500 ETF are jumpng 2% after hours on report Gilead drug showing effectiveness treating coronavirus.

CNBC news reports that “the ETF that tracks the S&P 500 rallied in after-hours trading Thursday after a report said a Gilead Sciences drug was showing effectiveness in treating the coronavirus. The move pointed to a jump for the stock market on Friday.”

Around 5 p.m. ET, the SPDR S&P 500 ETF Trust (SPY) was up 2%. Stock futures open at 6 p.m. ET.

Gilead shares jumped by 9% after STAT news reported that a Chicago hospital treating coronavirus patients with Remdesivir in a trial were recovering rapidly from severe symptoms. The publication cited a video it obtained where the trial results were discussed.