U.S. stock-index futures rose Friday, with the Dow Jones Industrial Average and the S&P 500 up more than 3%, indicating a jump at the opening bell.
Nasdaq-100 futures were up more than 2%.
European and Asian stock markets also rose as U.S. President Donald Trump announced plans late Thursday to gradually restart the economy.
London’s FTSE index gained more than 3.5% in midday trading. The DAX in Frankfurt rose about 4.4%, and the CAC-40 in Paris just over 4%.
The reports of a potential drug treatment for the COVID-19 disease from U.S. drug maker Gilead Sciences Inc. also contributed to the positive reaction of stock markets.
University of Chicago Medicine researchers said Thursday they observed “rapid recoveries” in 125 COVID-19 patients taking Gilead Sciences’ experimental drug “remdesivir” as part of a clinical trial.
Asian markets seemed unmoved by news the Chinese economy shrank during the first quarter of 2020, the first time in decades that has happened.
In Australia, the S&P/ASX 200 index closed 1.9% higher.
Japan’s Nikkei index gained 3.15%, South Korea’s KOSPI rose 3.2%, and India’s Mumbai Sensex rose more than 3.2%. Taiwan’s TSEC 50 Index and the Hang Seng in Hong Kong rose about 1.5% each, while Shanghai Composite Index in China was up less than 1%.
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