S&P 500, Dow close at all-time highs on reignited vaccine hopes

The Dow Jones Industrial Average rose 470.63 points, or 1.6%, to 29,950.44; the S&P 500 gained 41.76 points, or 1.16%, at 3,626.91; and the Nasdaq Composite added 94.84 points, or 0.8%, at 11,924.13.

NEW YORK: The S&P 500 and Dow Jones industrial average notched record closing highs on Monday as news of another promising coronavirus vaccine fanned hopes of eradicating COVID-19, while spiking infections and new shutdowns threatened to hobble a recovery from the pandemic recession.

All three major U.S. stock indexes advanced and with its new closing record, the blue-chip Dow is the last of the three to reclaim levels reached in February, before lockdowns sent the markets into free-fall.