Brimming hopes that people will again return to office buildings, shopping centers and normal life sent markets rallying worldwide on Monday, following encouraging data about a potential coronavirus vaccine.
The S&P 500 rose 1.2% after Pfizer said an early peek at its vaccine data suggests the shots may be 90% effective at preventing COVID-19, though that doesn’t mean its release is imminent. The index had been up as much as 3.9% earlier in the day, above its record high. Drops in Big Tech companies like Apple and Microsoft, which have thrived during the pandemic, dragged the Nasdaq composite lower.
The S&P 500 rose 41.06, or 1.2%, to 3,550.50.
The Dow Jones Industrial Average climbed 834.57 points, or 2.9%, to 29,157.97. .
The Nasdaq composite fell 181.45 points, or 1.5%, to 11,713.78.
The Russell 2000 small-cap index rallied 60.88 points, or 3.7%, to 1,705.04.
For the year:
The S&P 500 is up 319.72 points, or 9.9%.
The Dow is up 619.53 points, or 2.2%.
The Nasdaq is up 2,741.18 points, or 30.6%.
The Russell 2000 is up 36.57 points, or 2.2%.
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