U.S. stocks surge after Gilead’s promising coronavirus vaccine results, Dow ends highest since March

U.S. stocks jumped on Friday after a report on a Gilead Sciences drug that showed some effectiveness in treating the coronavirus. This gave investors some hope there could be a treatment solution that helps U.S. economy to reopen faster from the widespread shutdowns.

The Dow Jones Industrial Average ended 704 points higher, or 3 percent. The S&P 500 climbed 2.7 percent. The tech-heavy Nasdaq Composite gained 1.4 percent.