Stocks rallied to record levels on Monday as investors cheered trial data from drugmakers Pfizer and BioNTech indicating their Covid-19 vaccine is more than 90% effective.
The Dow Jones Industrial Average traded 1,563 points higher at the open, or 5.5% and hit an all-time high. The S&P 500 also reached a record, popping 3.7%. The Nasdaq Composite was the relative underperformer, trading 1.3% higher. The small-cap Russell 2000 index gained 4.6%.
The announcement was seen on Wall Street as a sign that the pharmaceutical industry may soon have a viable way to control a disease that has derailed the U.S. economy for much of 2020 and has killed more than 230,000 Americans
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Hmm ... tomorrow morning STI also cheers?
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Stock market news live updates: Dow climbs 835 points to pare some gains after soaring to a record intraday high
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