The Dow Jones Industrial Average and the S&P 500 both rose to record highs on Monday following more great news about a COVID-19 vaccine candidate.
The Dow climbed 471 points to close at 29,950.44, while the S&P 500 rose 1.2 percent to 3,626.91, CNN and The Associated Press report. The new record highs were reached after Moderna announced that data suggested its COVID-19 vaccine candidate is nearly 95 percent effective, better than experts had been anticipating.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
America's academic brain drain has begunIN THE SPOTLIGHT As the Trump administration targets universities and teachers, educators are eying greener academic pastures elsewhere — and other nations are starting to take notice
-
Why is Musk targeting a Wisconsin Supreme Court race?Today's Big Question His money could help conservatives, but it could also produce a Democratic backlash
-
How to pay off student loansThe explainer Don't just settle for the default repayment plan
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Why are stocks in 'correction' and not a bear market?Today's Big Question Investors still hope for a 'flip' in Trump's trade policies
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Chinese AI chatbot's rise slams US tech stocksSpeed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
-
Biden expected to block Japanese bid for US SteelSpeed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
-
Judges block $25B Kroger-Albertsons mergerSpeed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
