Encouraging news on a second possible coronavirus vaccine sent stocks higher in early trading on Wall Street, following gains in overseas markets
ByThe Associated Press
November 16, 2020, 2:43 PM
• 4 min read
NEW YORK — Encouraging news on a second possible coronavirus vaccine sent stocks higher in early trading on Wall Street, following gains in overseas markets. Moderna said Monday that preliminary data show its vaccine provides strong protection against the coronavirus. The announcement comes one week after Pfizer revealed its own vaccine to be similarly effective. The S&P 500 rose 0.8%. The index is coming off a record high last week. Small-company stocks, travel companies such as cruise lines and others that stand to benefit from a re-opening of the economy led the way higher. In other bullish signals, Treasury yields and oil prices also rose.
THIS IS A BREAKING NEWS UPDATE: AP’s earlier story appears below.
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