Dow jumps to end week | Another Nasdaq record | Trump says China trade relationship damaged

Stocks were up as news about a potential coronavirus treatment raised economic recovery hopes.

VIEW IN BROWSER | SUBSCRIBE FRI, JUL 10, 2020 EVENING BRIEF AS OF FRI, JUL 10, 2020 • 04:32 ET DJIA 26075.30 +1.44% +369.21 S&P 500 3185.04 +1.05% +32.99 NASDAQ 10617.44 +0.66% +69.69   Most Active DOW NAME LAST CHG %CHG BA 178.44 +5.16 +2.98% JPM 96.27 +4.99 +5.47% MSFT 213.67 -0.65 -0.30% S&P 500 NAME LAST CHG %CHG AAL 11.94 +0.76 +6.80% BAC 24.02 +1.25 +5.49% UAL 32.67 +2.50 +8.29% NASDAQ NAME LAST CHG %CHG AAL 11.94 +0.76 +6.80% UAL 32.67 +2.50 +8.29% AMD 55.88 -1.38 -2.40% EDITOR'S NOTE The S&P 500 formed a "golden cross," on Friday, a technical pattern that often indicates stocks are soon to run higher.   It happens when the 50-day and 200-day moving averages cross paths, explains CNBC's Yun Li. Recession or not.   According to research from Stephen Suttmeier, Bank of America's chief equity technical strategist, the S&P 500 rises 68% of the time in the 260 days after a golden cross with an average return of 9%. "Recession Golden Crosses indicate an improving equity market during periods of economic stress," Suttmeier said. The major indexes rose Friday and ended a volatile week with gains. The market continues to trade on coronavirus news. Infections, hospitalizations and deaths are on the rise, but investors are finding hope in medical developments. Netflix lifted the Nasdaq to another record Friday.   Positive announcements from Gilead and BioNTech helped drive stocks higher.    "On days in which there's promise of health solution, or that the economy might actually recover faster than expected, you tend to get all your cyclical stocks ... leading the charge," said Michael Arone, chief investment strategist at State Street Global Advisors.   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  Dow jumps 360 points on virus treatment hope, Netflix leads Nasdaq to another record Trump says U.S.-China relationship is 'severely damaged,' phase 2 trade deal not a priority Gilead says remdesivir coronavirus treatment reduces risk of death in severely sick patients American Airlines tells Boeing: No financing, no 737 Max deliveries U.S. reports record single-day spike of 63,200 new cases of coronavirus Trump's rift with White House health advisor Fauci widens as coronavirus cases continue to hit new records Rivian raises $2.5 billion in aggressive plan to beat Tesla and Nikola with the first all-electric pickup Amazon tells employees to delete TikTok from phones, citing security risks Chamath Palihapitiya: Here's why you go short big tech stocks Facebook and Alphabet right now Big Tech went from growth stocks to Wall Street's Treasury bond substitute during the coronavirus     TOP VIDEO Tech investor Roger McNamee: Tech needs to move away from 'move fast and break things' culture   CNBC PRO Here are Bank of America's top stock picks for the third quarter   SPECIAL REPORTS One group of tech stocks could be key to the next leg of the market rally One trader has a way to hedge the market in case of more downside   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS