US stocks burst higher, S&P 500 at record on vaccine hopes

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Stocks surged on Monday, catapulting Wall Street back to record heights, on a burst of hope following encouraging data about a potential COVID-19 vaccine. 9News

The Big Tech companies that drove the market higher earlier in the pandemic, in large part because they didn't need a "normal" economy to succeed, were lagging behind. That kept a lid on the gains for the Nasdaq composite, which rose a more modest 1.6 per cent.

The 90 per cent effectiveness rate for Pfizer's potential vaccine is what struck Ajay Rajadhyaksha, head of macro research at Barclays.

 

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Wow!!! The pandemic is suddenly over? Let’s praise JoeBiden even though realDonaldTrump said this consistently...

Funny how they didn't release this information before the election 🤐 Almost like that happening on Trump's watch would have had him won by an even larger margin... Don't worry, we'll all soon see that TrumpWon TrumpWillPrevail MAGA2020 Trump2020

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