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



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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