U.S. stocks jumped at the start of trading Monday after the Food and Drug Administration granted"fast track" status to two coronavirus vaccine candidates. The Dow Jones Industrial Average DJIA, +0.88% rose 217 points, 0.8%, to open near 26,292, while the S&P 500 SPX, +0.74% added about 25 points or 0.8%, opening near 3,210. The Nasdaq Composite COMP, +1.22% opened near 10,727, up 110 points or 1% and establishing an intraday record.
Shares of Pfizer Inc. PFE, +3.39% and BioNTech BNTX, +10.93% climbed in early action in early action after the companies announced that two of their COVID-19 vaccine candidates had received authorization for accelerated approval from the Food and Drug Administration. Investors have largely looked past a surge in coronavirus cases, especially in the Sun Belt, and the start of what's expected to be a grim earnings season, which kicks off in earnest Tuesday.
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