Name: Vaccine hopes send Dow, S&P 500 to record close
Uploaded: 2020-11-17T18:37:31.000Z
Duration: 2 min 18 s
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It was a banner day on Wall Street as investors cheered, promising news on yet another vaccine.

The Dow closed its first record high since February, rising 470 points, finishing within striking distance of 30,000.

ES and P 500 rallied 41 points, also closing at a record.

Moderna announced that its experimental vaccine was nearly 95% effective in preventing COVE in 19, based on early data from a late stage trial.

The news came exactly one week after Pfizer released positive results from its clinical trials.

But Madonna's vaccine has a key advantage over fighters it doesn't need Ultra Cults storage, which will make it easier to distribute Shares of Madonna, climbed to 9.6%.

Positive news on the race for vaccine came amid another grim pandemic.

By Monday, more than 70,000 people were hospitalized with coronavirus infections in the United States.

That's an all time high, according to Reuters tally.

Total US infections crossed the 11 million mark just over a week after hitting 10 million, marking the fastest time it took the country to report an additional one million cases since the start of the pandemic.

And yet Wall Street moved higher as investors looked ahead to the future, says Andy Kaplan, co head of investments at Regent Atlantic.

The rise in Kobe cases is happening in the here now, and it is absolutely scary news.

But markets are looking past this moment of fear to see what does 2021 have in store and what's different about 2021 in investors Minds today versus two weeks ago.

What's different is that we now expect to have a vaccine rolled out over the course of 2021 which will enable the return back to normalcy.

Travel related stocks were a big beneficiary of that optimism.

 Carnival was the biggest gainer, finishing up the day with a near 10% rally. 