U.S. stocks climbed on Monday after preliminary coronavirus vaccine data from Moderna further lifted expectations of a strong economic recovery, CNBC reports. The Dow Jones Industrial Average gained by 470.63 points, or 1.6 percent, to close at 29,950.44. The 30-stock Dow logged intraday and closing record highs. The S&P 500 climbed by 1.2 percent at 3,626.91, posting an all-time closing high. Bank stocks such as Citigroup and Wells Fargo gained more than 3 percent each and JPMorgan Chase advanced by 2.8 percent.

Source: The Standard November 17, 2020 03:56 UTC