MSCI's gauge of stocks across the globe gained 2.59%, while the pan-European STOXX 600 index rose 2.63%, climbing more than 8% the last two weeks. On Wall Street, stocks pared early gains above 2% but remained firmly in positive territory. Boeing rose 14.7% while the Nasdaq, up 6.1% for the week, logged its best two-week gain since April 2001(File pic NYSE - Reuters)
NEW YORK (Reuters) - Global stocks rallied on Friday on President Donald Trump's plans to revive the coronavirus-hit U.S. economy and a report about a clinical trial for a potential drug to treat COVID-19, while the dollar fell amid investors' growing risk-on sentiment.
The bulls charged ahead on a report that patients with severe COVID-19 symptoms had responded positively to Gilead Sciences' experimental drug remdesivir, lifting Gilead's shares by 9.7%. Analysts and the company have urged caution on drawing any conclusions, however.
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