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4:05 pm: US equities close higher on COVID-19 pill breakthrough US stocks closed higher to mark the start of October trading as news of a new oral treatment for COVID-19 boosted shares of companies tied to the economic recovery. Shares of Dow member Merck jumped 9% after the drugmaker and Ridgeback Biotherapeutics said their oral antiviral treatment for COVID reduced the risk of hospitalization or death by 50% for patients with mild or moderate cases.
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