New York (AFP)

The New York Stock Exchange ended the week on a positive note Friday, prompted by encouraging signals about an upcoming reopening of the US economy and a test on a possible treatment of Covid-19.

Its flagship index, the Dow Jones Industrial Average, rose 2.99% to 24,242.49 points and the Nasdaq, highly technological, appreciated by 1.38% to 8,650.14 points.

The S&P 500, which represents the 500 largest companies on Wall Street, rose 2.68% to 2,874.56 points.

The major indices of the New York place are displayed on the way up for the second week in a row: the Dow Jones recorded a weekly increase of 2.2%, the Nasdaq of 6.1% and the S&P 500 of 3 , 1%.

However, a flood of indicators this week confirmed the economic damage caused by the Covid-19 pandemic and the restrictive measures imposed in an attempt to halt its spread.

Latest: China's gross domestic product collapsed 6.8% in the first quarter.

But on Friday, brokers were reassured by information from the Stat News publication that the first results of a study on a drug from the Gilead laboratory (whose price jumped 9.73%) for patients with severe cases of Covid-19 were promising. Several analysts, however, urged caution in the face of still very preliminary results.

The enthusiasm of market players was also fueled by the presentation by the White House on Thursday evening of a plan on how to restart America.

The decision to lift the more or less strict restrictions or confinement decreed to stem the pandemic would ultimately rest with the governors of the 50 states. But the executive has drawn up recommendations to "guide" them.

"The return to normal + of the economy will be gradual, and the market usually does not like this notion of progressivity. But with the last headlines, investors seem to see a light at the bottom of the tunnel," commented JJ Kinahan of TD Ameritrade.

Another optimistic signal: Boeing announced Thursday a gradual resumption, from next week, of its production of commercial aircraft in the United States, after an interruption of several weeks. Its title jumped 14.72%.

On the bond market, the 1-year rate on the debt of the United States rose at 8:15 p.m. GMT to 0.6465% against 0.6267% the day before at the close.

© 2020 AFP