US stocks rise at the start – Arabian Business Egypt

US stock indices started the trading session on the rise today, Friday, after the release of economic data, and with positive developments regarding a drug for the “Corona” virus.

And at 1:35 pm GMT: at 3:35 pm Cairo time, the “Dow Jones” industrial index rose 0.3%, or 189 points, at 34033, while the broader “S&P 500” rose 0.2%, or 9 points, to 4316. Point, and “Nasdaq” increased 0.1%, or about 18 points, at 14,466 points.

Economic data revealed that the US personal income rose for the third consecutive month by 0.2% in August, and economic data showed that the consumer spending index, which excludes energy and food, increased 3.6% on an annual basis, which is the same level as July and the highest level in 30 years.

Merck’s stock jumped 11.1 percent after the pharmaceutical company announced that it intends to apply for a license for emergency use of a drug that reduces the chances of death and severe symptoms of the “Corona” virus by about 50 percent.

 
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