7/10, 3:32 PM (Source: TeleTrader)
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Wall Street opens mostly higher after virus treatment news

Stock indexes in the United States opened the trading session mostly higher on Friday after Gilead Sciences Inc. announced that its antiviral drug remdesivir could lower the risk of death among coronavirus patients by 62%. Federal Reserve Bank of Dallas President Robert Kaplan said that the US GDP could contract by up to 5%, while the US Bureau of Labor Statistics reported that producer prices decreased by 0.2% in June on a monthly basis.

The Dow Jones Industrial Average index increased by 0.11% at the open with Raytheon Technologies rising the most, 1.79%, at 9:31 am ET. The Nasdaq 100 was flat in the first minute of trading, as led the losses, declining by 3.25% at 9:33 am ET. The S&P 500 added 0.13% as the markets opened, with Mohawk Industries as the best performer, gaining 1.91% at 9:32 am ET.

The euro was 0.21% higher compared to the dollar, trading at 1.13082 at 9:29 am ET.

Breaking the News / MS