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Dow ends more than 300 points higher on vaccine progress



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Video: European shares extend rally on vaccine cheer (Reuters)

European shares extend rally on vaccine cheer

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Stocks closed with solid gains Monday, boosted by another round of positive news regarding the development of COVID-19 vaccines, while extending gains late in the session after The Wall Street Journal reported that President-elect Joe Biden would nominate former Federal Reserve Chair Janet Yellen to serve as Treasury secretary in his administration. The Dow Jones Industrial Average rose around 330 points, or 1.1%, to end near 29,594, according to preliminary figures, while the S&P 500 finished up around 20 points, or 0.6%, near 3,578. The Nasdaq Composite rose around 26 points, or 0.2%, ending the session near 12,424. AstraZeneca on Monday said its vaccine candidate had an efficacy rate of up to 90% in late-stage trials, following positive news earlier this month regarding a vaccine candidate developed by Pfizer Inc. and BioNTech and another developed by Moderna Inc.

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