Stock gains accelerate into the close, Dow now up 700 points

By Around the Web

(CNBC) Stocks surged after a report said a Gilead Sciences drug showed some effectiveness in treating the coronavirus, giving investors some hope there could be a treatment solution that helps the country reopen faster from the widespread shutdowns that have plunged the economy into a recession.

The Dow Jones Industrial Average was up 700 points, or 3%. The S&P 500 traded 2.7% higher, while the Nasdaq Composite advanced 1.4%. (Click here for the latest market news.)

Boeing shares jumped 14% after the airplane maker said it would resume production in the Seattle area as early as April 20. The company also said Friday it would resume operations in the Philadelphia area.

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