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Oct. 1, 2021, 4:09 p.m. EDT

Dow surges nearly 500 points as Merck's experimental COVID drug delivers dose of optimism but stocks register weekly losses

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By Mark Decambre

U.S. stock indexes closed solidly higher Friday, with some of the upbeat mood on Wall Street to start October and the fourth quarter being attributed to an experimental COVID-19 pill from Merck & Co. /zigman2/quotes/209956077/composite MRK -0.95% that has shown in trials that it helps prevent high-risk people early in the course of the disease from becoming seriously ill and dying. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -1.30% rose 1.4% to 34,326, with gains in Visa /zigman2/quotes/203660239/composite V -3.93% , Microsoft Corp. /zigman2/quotes/207732364/composite MSFT -1.85% , Walt Disney & Co. /zigman2/quotes/203410047/composite DIS -6.94% and American Express Co. /zigman2/quotes/203805826/composite AXP -1.35% helping power the gains for the price-weighted index, along with Merck. The S&P 500 index /zigman2/quotes/210599714/realtime SPX -1.89% rose 1.2% to 4,357, with energy shares surging 3.3% to lead the S&P 500's 11 sectors to start the month where that sector ended September, on top. The Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -2.72% closed 0.8% higher at 14,566. For the week, however, the Nasdaq closed down 3.2% and the S&P 500 ended off 2.2% for their worst weekly declines since Feb. 26, while the Dow ended the week off 1.4% for the sharpest weekly slide since Sept. 10, FactSet data show. as investors displayed a little risk appetite, thinking a new page in the calendar might push the market past the issues that drove it down earlier in the week.

/zigman2/quotes/209956077/composite
US : U.S.: NYSE
$ 79.98
-0.77 -0.95%
Volume: 18.46M
Jan. 21, 2022 4:02p
P/E Ratio
28.24
Dividend Yield
3.45%
Market Cap
$202.03 billion
Rev. per Employee
$660,851
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,265.37
-450.02 -1.30%
Volume: 523.88M
Jan. 21, 2022 4:52p
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/zigman2/quotes/203660239/composite
US : U.S.: NYSE
$ 205.93
-8.42 -3.93%
Volume: 16.20M
Jan. 21, 2022 4:00p
P/E Ratio
37.52
Dividend Yield
0.73%
Market Cap
$433.74 billion
Rev. per Employee
$1.12M
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/zigman2/quotes/207732364/composite
US : U.S.: Nasdaq
$ 296.03
-5.57 -1.85%
Volume: 57.98M
Jan. 21, 2022 4:00p
P/E Ratio
33.09
Dividend Yield
0.84%
Market Cap
$2222.59 billion
Rev. per Employee
$973,762
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/zigman2/quotes/203410047/composite
US : U.S.: NYSE
$ 137.38
-10.24 -6.94%
Volume: 34.49M
Jan. 21, 2022 4:03p
P/E Ratio
125.98
Dividend Yield
0.00%
Market Cap
$250.10 billion
Rev. per Employee
$354,668
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/zigman2/quotes/203805826/composite
US : U.S.: NYSE
$ 158.74
-2.18 -1.35%
Volume: 3.78M
Jan. 21, 2022 4:02p
P/E Ratio
16.60
Dividend Yield
1.08%
Market Cap
$122.95 billion
Rev. per Employee
$643,124
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/zigman2/quotes/210599714/realtime
US : S&P US
4,397.94
-84.79 -1.89%
Volume: 3.20B
Jan. 21, 2022 4:52p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
13,768.92
-385.10 -2.72%
Volume: 5.01M
Jan. 21, 2022 5:16p
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