Dow jumps 360 points on virus treatment hope, Netflix leads Nasdaq to another record; European markets close higher as Italian and French industrial data surprises; BELEX15 down 0.5%; NBS FX reserves at EUR 14bn
Stocks rose Friday as news about a potential coronavirus treatment increased hope for an economic recovery following the outbreak. Tech stocks also continued their winning week.
The Dow Jones Industrial Average traded 369.21 points higher, or 1.4%, to 26,075.30. The S&P 500 climbed 1%, or 32.99 points, to 3,185.04. The Nasdaq Composite rose 0.6%, or 69.69 points, to another record closing high of 10,617.44, lifted by Amazon and Netflix. 
Netflix jumped 8% to a record after Goldman said it now sees a 30% rally over the next 12 months for the company. Amazon also gained 0.5% to an all-time high after Citi hiked its target on the e-commerce giant to a Street high of $3,550 per share.

European markets closed higher Friday as data showed French and Italian industry output rebounding more strongly than expected in May. The pan-European Stoxx 600 provisionally closed up by 0.8%, autos adding 2.3% to lead gains as all sectors except health care advanced into positive territory.
Carlsberg climbed more than 6% after the Danish brewer signaled that the slump in beer sales across Western Europe is slowing.

BELEX15 was down 0.5%, while trade volume was among lowest ever – only EUR 6 thousands, for the entire market. The only active names were NIS and Metalac, while even that was symbolic. NIS was down 2.5% and that was the reason for BELEX15 loss.
From the macro side, NBS FX reserves stood at EUR 14.0 bn, covering 147% of money supply M1 and more than six months’ worth of the country’s imports of goods and services, twice more than the standard on the adequate level of coverage of the imports of goods and services by FX reserves. 
Source: CNBC, Ilirika