Morning Report 13 Jul 20: US sharemarkets rose on Friday

Investors were encouraged by news that Gilead's remdesivir drug was found to significantly improve clinical recovery and reduced the risk of death in COVID-19 patients. Shares in Gilead rose 2.2%. Shares in Netflix rose 8.1% on a broker upgrade. The Dow Jones index rose by 369 points or 1.4%. The S&P500 index rose 1.1%. And the Nasdaq index lifted 70 points or 0.7% to another record closing high. Over the week the Dow rose by 1%, the S&P 500 gained 1.8% and the Nasdaq lifted 4%.

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