Stock market news updates, November 16, 2020: S&P 500, Dow post record closing highs after Moderna releases upbeat vaccine efficacy data
The Dow and S&P 500 soared to record closing highs on Monday after Moderna (MRNA) became the latest major drug-maker to announce upbeat data for its COVID-19 vaccine candidate, building on hopes that an effective inoculation will soon be available. The Dow rose more than 450 points, or 1.5%, to top both its former record closing and intraday high on Monday. The S&P 500 also increased to a record close.
