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July 10, 2020, 9:34 a.m. EDT

Stocks rise at the open on coronavirus treatment hopes

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By Andrea Riquier

U.S. stocks opened modestly higher Friday, buoyed by encouraging news about a coronavirus treatment. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.05% rose 14 points, 0.1%, to open near 25,720, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.40% was up less than a point, trading near 3,153. The tech-heavy Nasdaq Composite /zigman2/quotes/210598365/realtime COMP +2.13% was less than one point higher, near 10,549. Gilead Sciences Inc. /zigman2/quotes/210293917/composite GILD +1.09% said in a report published Friday that its antiviral drug remdesivir reduced the risk of death for coronavirus patients by 62% compared with standard care alone. Friday's early gains come after a up-and-down week for the stock market, which has been caught between reports of rising COVID-19 cases and some economic data that has been better than expected. On Thursday, the U.S. Labor Department said that first-time applications for jobless benefits fell, but remain high.

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,976.84
+289.93 +1.05%
Volume: 340.21M
Aug. 12, 2020 4:20p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,380.35
+46.66 +1.40%
Volume: 2.24B
Aug. 12, 2020 4:20p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
11,012.24
+229.42 +2.13%
Volume: 3.35M
Aug. 12, 2020 4:39p
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/zigman2/quotes/210293917/composite
US : U.S.: Nasdaq
$ 68.84
+0.74 +1.09%
Volume: 9.08M
Aug. 12, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
3.95%
Market Cap
$85.38 billion
Rev. per Employee
$2.02M
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