The stock market has been resilient even in the face of ongoing uncertainty about the future of the economy, and Friday morning was no exception. Although economic weakness has persisted and COVID-19 cases have been at elevated levels in the U.S. far longer than in other parts of the world, investors remain optimistic that the financial markets will make it through the disruptions the coronavirus pandemic has caused. That helped several key indexes rise. Just before 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 167 points to 25,873, and the S&P 500 (SNPINDEX: ^GSPC) gained 7 points to 3,159. However, the Nasdaq Composite (NASDAQINDEX: ^IXIC) fell off from its record performance, losing 25 points to 10,522.
Many companies have suffered severe damage from the pandemic, but some have seen rising demand for their products and services as a result of the crisis. Netflix (NASDAQ: NFLX) has seen subscriber counts jump during stay-at-home orders from government officials to try to control the spread of COVID-19, and its stock climbed today. Also rising was Gilead Sciences (NASDAQ: GILD), which has been working on treatments to try to lessen the health effects of COVID-19.
Shares of Netflix were higher by 3% on Friday morning. Investors celebrated a positive outlook from prominent Wall Street stock analysts.