U.S. stocks closed broadly higher Monday, sending the S&P 500 to another all-time high.
The latest gains followed a strong showing in markets across much of Europe and Asia, reflecting growing optimism among investors as pharmaceutical companies continue to work toward a possible vaccine for COVID-19.
Airlines and other companies whose profits are closely tied to the economy rose, as the market’s gains spread out beyond just Big Tech giants.
The S&P 500 rose 34.12 points, or 1%, to 3,431.28.
The Dow Jones Industrial Average gained 378.13 points, or 1.4%, to 28,308.46.
The Nasdaq composite picked up 67.92 points, or 0.6%, to 11,379.72.
The Russell 2000 index of small company stocks added 15.99 points, or 1%, to 1,568.47.
For the year:
The S&P 500 is up 200.50 points, or 6.2%.
The Dow is down 229.98 points, or 0.8%.
The Nasdaq is up 2,407.11 points, or 26.8%.
The Russell 2000 is down 100 points, or 6%.