Stocks rose in their trading on Monday morning, after investors received encouraging news on COVID-19 vaccines and treatments, which raised hopes the pandemic and its economic fallout will soon be dealt with.
In particular, economically-sensitive sectors including industrials and energy jumped more than 1.5%.
The Dow Jones Industrial Average was up 250.54 points, or 0.86%, at 29,514.02, the S&P 500 was up 18.96 points, or 0.53%, at 3,576.50, while the Nasdaq Composite climbed 11.06 points, or 0.09%.
Global equity markets received a boost at the time the Swedish firm AstraZeneca Plc became the latest major drugmaker to say its COVID-19 vaccine could be on average around 70% effective after combined analysis from two dosing regimens. Yet, its shares fell 3.8% as some traders perceived the efficacy data as disappointing compared to AstraZeneca's rivals, Russia's Sputnik V and US' Pfizer vaccine, both of which showed over 90 % efficacy.
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