Dow jumps more than 200 points as oil extends rebound; European stocks close lower with traders cautious on possible coronavirus treatment; BELEX15 down 0.46% with only two stocks traded; Government adopts budged rebalance
Stocks rose on Friday as oil prices clawed back even more of their historic losses from earlier in the week while investors weighed the prospects of a potential coronavirus treatment from Gilead Sciences. The Dow Jones Industrial Average closed 260.01 points higher, or 1.1%, at 23,775.27. The S&P 500 gained 1.4% to close at 2,836.74 while the Nasdaq Composite advanced 1.7% to 8,634.52. Tech was the best-performing sector in the S&P 500, gaining 2.1% as Apple climbed over 2%.
The pandemic has also led to unprecedented fiscal and monetary stimulus, including an open-ended asset-purchase program from the Federal Reserve. On Friday, President Donald Trump signed a $484 billion relief bill to boost small businesses and hospitals.

European stocks closed lower on Friday as traders monitored fresh economic data and digested a report that raised doubts over a possible coronavirus treatment. The pan-European Stoxx 600 provisionally closed down more than 1%, with most sectors and major bourses in negative territory. Travel and leisure shares were the worst performers, down over 3%.
Nestle posted better-than-expected results for the first quarter, reporting a 4.3% rise in organic sales as consumers stockpiled food amid coronavirus lockdowns. Shares were up nearly 2%.
French drugmaker Sanofi’s stock was also lifted, with shares gaining almost 3% after the company confirmed its 2020 outlook.

Friday was pretty much inactive in case of BELEX market as only NIS and Belgrade Airport were traded. BELEX15 was down 0.46%, since Belgrade Airport lost 2.2%, while NIS gained symbolic 0.19%. The company will report 1Q20 numbers today. Serbian government adopted 2020. budget rebalance due to fiscal measures it plans to apply to fight cornaviruis effects on economy. However, we still have no details on planned deficit and financing sources.
Source: CNBC, Ilirika