(CNBC) — U.S. stocks jumped on Monday after preliminary coronavirus vaccine data from Moderna lifted expectations of a strong economic recovery.
The Dow Jones Industrial Average added 356 points, or 1.2%, and reached an intraday record. The S&P 500 rose 0.8% and the Nasdaq Composite climbed 0.5%.
Stocks that would benefit from the economy reopening led the way higher. United Airlines was up 4.8%, and Carnival traded 10% higher. Bank stocks such as JPMorgan Chase and Wells Fargo gained more than 1% each and Citigroup advanced 3.1%. Moderna shares jumped nearly 10% on the day.
