Stocks Ended Higher, Dow and S&P 500 Hit Record Highs

U.S. stocks ended sharply higher on Monday, with the Dow and S&P 500 closing at new records, after Moderna announced upbeat data for its COVID-19 vaccine candidate, building on hopes that an effective inoculation will soon be available. The Dow Jones Industrial Average rose 470.63 points, or 1.60%, to 29,950.44. The S&P 500 added 41.76 points, or 1.16%, to 3,626.91. The Nasdaq Composite gained 94.84 points, or 0.80%, to 11,924.13.

Oil futures rallied Monday, with the U.S. benchmark finishing 3% higher after Moderna Inc. said its vaccine candidate was highly effective in preventing new COVID-19 infections. West Texas Intermediate crude for December delivery jumped $1.21, or 3%, to settle at $41.34 a barrel. January Brent crude added $1.04, or 2.4%, to finish at $43.82 a barrel.

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