Wall Street jumps with financials

The Dow Jones Industrial Average rose 369.21 points, or 1.44%, to 26,075.3, the S&P 500 gained 32.99 points, or 1.05%, to 3,185.04 and the Nasdaq Composite added 69.69 points, or 0.66%, to 10,617.44. For the week, the Dow rose 1%, the S&P 500 gained 1.8% and the Nasdaq jumped 4%. The Cboe Volatility index ended down on the day and fell 0.39 points for the week.

NEW YORK: U.S. stocks rose on Friday as a positive analysis on Gilead Sciences Inc's antiviral drug to treat COVID-19 helped to soothe investor worries over a record rise in coronavirus cases in the United States, and as financial shares surged.

The Nasdaq posted its sixth record closing high in seven days, but the index underperformed both the Dow and S&P 500, in a reversal of the recent trend.