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Oct. 1, 2021, 9:37 a.m. EDT

Dow jumps more than 250 points to start trade in October, 4th quarter on optimism from Merck's experimental COVID drug

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By Mark Decambre

U.S. stock benchmarks rose Friday morning to kick off the start of a new quarter and month, following heavy selling that closed a bruising September for investors. Some observers were attributing the more optimistic tone at the end of the week to news that Merck's experimental antiviral drug, developed as a treatment for COVID-19 with partner Ridgeback Biotherapeutics, reduced the risk of hospitalization or death in at risk adult patients with mild-to-moderate COVID by about 50% in an interim analysis of data from a Phase 3 trial. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.17% gained nearly 260 points, or 0.7%, to 34,092, the S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.84% climbed 0.3% at 4,321, while the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -1.92% rose less than 0.1% at 14,459.

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,580.08
-59.71 -0.17%
Volume: 444.85M
Dec. 3, 2021 5:35p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,538.43
-38.67 -0.84%
Volume: 2.71B
Dec. 3, 2021 5:35p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
15,085.47
-295.85 -1.92%
Volume: 4.96M
Dec. 3, 2021 5:16p
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