Dow books meager gain as report on Gilead’s experimental coronavirus drug quashes stock-market rally

The Dow Jones Industrial Average US:DJIA eked out a gain, rising 39.44 points, or 0.2%, at around 23,515.26, buttressed by gains UnitedHealth Group Inc. US:UNH, which rose 3% on the day. The blue-chip benchmark had hit a high at 23,885.36.

Meanwhile, the S&P 500 US:SPX edged up 1.51 points or less than 0.1%, at 2,797.80, with an intraday peak at 2,844.90. The Nasdaq Composite US:COMP gave up less than a point to end the session virtually unchanged at 8,494.75.

For the week so far, the Dow is off 3%, the S&P 500 is down 2.7% and the Nasdaq is down 1.8%.