S&P 500 closes at 10-week high on vaccine hopes, stimulus pledge

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U.S. stocks jumped on Monday, and the S&P 500 closed at a 10-week high, on encouraging early-stage data for a potential coronavirus vaccine and on the promise of more stimulus to lift an economy beaten down by the pandemic.

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NEW YORK (Reuters) – U.S. stocks jumped on Monday, and the S&P 500 closed at a 10-week high, on encouraging early-stage data for a potential coronavirus vaccine and on the promise of more stimulus to lift an economy beaten down by the pandemic.

FILE PHOTO: Floor traders work space is seen on the trading floor after the closing bell, following traders testing positive for Coronavirus disease (COVID-19), at the New York Stock Exchange (NYSE) in New York, U.S., March 19, 2020./File Photo

Advancing issues outnumbered declining ones on the NYSE by a 7.12-to-1 ratio; on Nasdaq, a 4.43-to-1 ratio favored advancers.

The S&P 500 posted 22 new 52-week highs and no new lows; the Nasdaq Composite recorded 88 new highs and seven new lows.

Volume on U.S. exchanges was 12.63 billion shares, compared to the 11.4 billion average for the full session over the last 20 trading days.

Reporting by Chuck Mikolajczak; Editing by Leslie Adler


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Author:

U.S. stocks jumped on Monday, and the S&P 500 closed at a 10-week high, on encouraging early-stage data for a potential coronavirus vaccine and on the promise of more stimulus to lift an economy beaten down by the pandemic.

Source: {authorlink}

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