Stocks burst higher, S&P 500 at record on vaccine hopes

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NEW YORK, NY (AP) — Stocks are surging Monday, catapulting Wall Street back to record heights, on a burst of hope following encouraging data about a potential COVID-19 vaccine.

The S&P 500 jumped 3.1% in afternoon trading and is is on track to close at a record for the first time in more than two months.

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Markets around the world were already climbing before the encouraging early data on Pfizer’s potential vaccine on relief that the limbo created by the long, market-bruising battle for the White House was finally clearing.

Travel companies and other stocks that most need the economy to recover led the way.