Dow adds 700 points in attempted rally following Thursday's losses

The Dow Jones Industrial Average gained 700 points Friday morning, recovering from some of the 1,800-point selloff the previous day – amid investor concerns about a prolonged coronavirus pandemic on the economy. The S&P 500 rose 2.3%. 

Thursday's stocks decline, the worst since March, was led by the travel and hospitality sectors, which regained some ground Friday, as fear of a second wave of the virus seemed to perhaps dissipated. While major airline and cruise ship companies all added close to 10%, they will close the week down.

Treasury Secretary Steven Mnuchin on Thursday expressed doubt that rising case numbers would lead to further business closures.

"We can't shut down the economy again," he told CNBC.