Dow Jones Rallies Despite Possible 737 Max Order Cancellation for Boeing, Dismal Bank Earnings Expected Next Week
The Dow Jones Industrial Average (DJINDICES: ^DJI) was rallying on Friday, up 1.1% at 2:05 p.m. EDT. Gilead Sciences published data on Friday showing that antiviral drug remdesivir reduced risk of death in severe cases of COVID-19, although additional trials are needed. This good news was offset by the numbers: The U.S. reported over 63,000 confirmed cases of COVID-19 for July 9, a new record.
A rising tide lifted many boats. Boeing (NYSE: BA) stock was up on Friday despite a major airline reportedly threatening to cancel 737 Max orders, and financial stocks JPMorgan Chase (NYSE: JPM), American Express (NYSE: AXP), and Goldman Sachs (NYSE: GS) rose even as an analyst warned about massive loan loss provisions for the second quarter.
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Source Fool.com
