03:37 GMT03 March 2021
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    NEW YORK (Sputnik) - US stocks made an early start to a so-called 'Santa Claus' rally typical for the month of December, as the top equities index, the S&P 500, and the technology benchmark Nasdaq hit record highs on the promise of promised coronavirus vaccines.

    The S&P 500, a barometer for the top 500 US stocks on the New York Stock Exchange, closed up 1.1 percent at 3,660 on Tuesday after hitting a record high of 3,678. For November, the S&P 500 rose 10.8 percent, its strongest advance since April.

    The Nasdaq Composite Index, which counts on the performance of US tech stock giants such as Facebook, Apple, Amazon, Netflix and Google, settled up 1.3 percent at 12,355, after an all-time high of 12,405. Nasdaq gained 11.8 percent in November, also the highest level since April.

    The Dow Jones Industrial Average, Wall Street’s broadest stocks gauge, rose 0.6 percent to 29,824. The Dow finished up 11.9 percent for November, its largest rally since January 1987.

    Progress in coronavirus vaccines reported by pharmaceutical giants Pfizer and Moderna have boosted US stocks and other risk assets since November. Both companies have said they expect to receive emergency use authorization for their coronavirus vaccines from the US Food and Drug Administration, as well as European health authorities.

    US Health Secretary Alex Azar suggested that some Americans could expect to get their first immunizations against the coronavirus before Christmas.

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    Tags:
    Food and Drug Administration (FDA), Alex Azar, Dow Jones, Dow Jones Industrials Average Index, Dow Jones Index, S&P, S&P 500, vaccine, coronavirus, COVID-19, Wall Street, USA, US
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