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

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.

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.