(CNBC) -- Stocks rallied on Monday, rebounding from losses last week, as news from a Moderna trial stoked optimism about a potential coronavirus vaccine.
The Dow Jones Industrial Average traded 1,011 points higher, or 4.3%. The S&P 500 gained 3.6% while the Nasdaq Composite advanced 2.8%. The Dow and S&P 500 were both on pace for their biggest one-day gains since early April.
Moderna shares rallied 25% after the company reported “positive” phase one results for a potential coronavirus vaccine. The company said that after two doses all 45 trial participants had developed coronavirus antibodies.
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