Stocks closed higher on Wall Street Monday as more encouraging news on coronavirus vaccines and treatments helped temper worries over rising virus cases and the economic impact on businesses.
Banks, industrial companies and other businesses that have been beaten down during the pandemic powered the gains, which erased about three-fourths of the S&P 500’s losses last week. Technology stocks, big winners through much of this year, fell.
Treasury yields mostly rose, another sign of optimism among investors.
The S&P 500 rose 20.05 points, or 0.6%, to 3,577.59.
The Dow Jones Industrial Average gained 327.79 points, or 1.1%, to 29,591.27.
The Nasdaq composite added 25.66 points, or 0.2%, to 11,880.63.
The Russell 2000 index of smaller stocks picked up 32.96 points, or 1.8%, to 1,818.30.
For the year:
The S&P 500 is up 346.81 points, or 10.7%.
The Dow is up 1,052.83 points, or 3.7%.
The Nasdaq is up 2,908.03 points, or 32.4%.
The Russell 2000 is up 149.83 points, or 9%.