- Wall Street’s main indexes stay relatively calm on Friday.
- Energy shares gain traction on rising crude oil prices.
Major equity indexes in the US started the day in a calm manner as investors continue to assess the rising number of coronavirus cases in the US against optimism surrounding potential treatments.
As of writing, the S&P 500 (SPX) was up 0.15% on the day at 3,155, the Dow Jones Industrial Average was gaining 0.45% at 25,827. On the other hand, the Nasdaq Composite was losing 0.42% at 10,500.
Energy shares push higher
Gilead Sciences announced on Friday that their antiviral Remdesivir was associated with an improvement in the clinical recovery and a 62% reduction in the risk of mortality. “Findings from comparative analysis showed 74.4% of Remdesivir-treated patients recovered by day 14 vs 59% patients receiving standard of care,” Gilead Sciences further noted in its report.
Among the 11 major S&P 500 sectors, the Energy Index is up 1.6% boosted by a 1% increase in US crude oil prices. On the flip side, the Technology Index is down 0.6%.