(CNBC) – U.S. stocks rose on Friday as investors bet again on stocks that would benefit from a potentially effective vaccine and economic recovery next year.
The Dow Jones Industrial Average traded higher by 452 points, or 1.6%. The S&P 500 gained 1.5%, while the techy-heavy Nasdaq Composite rose 0.8%. The Russell 2000, which tracks small-cap stocks, jumped more than 2% to an intraday record, and was on pace for its first all-time closing high since August 2018.
Shares of Disney gained 2%. Shares of Carnival Corp., United Airlines and Boeing all rose, capping big gains for the week. At the sector level, energy and industrials rose 3.9% and 1.9%, respectively, to lead the S&P 500 higher. Financials and materials were also up more than 1%.
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