Stocks Poised to Close Higher Monday, Dow Hits All-Time Intraday High as Moderna Says COVID-19 Vaccine is 94.5% Effective

Monday, November 16, 2020 3:53 PM | MT Newswires

US stocks were poised to close higher after initial data from a phase 3 trial showed Moderna's (MRNA) COVID-19 vaccine was more effective than another treatment unveiled by Pfizer (PFE) and BioNTech (BNTX) a week ago and easier to store and transport.

The Dow Jones Industrial Average hit an all-time intraday high of 29,942.88 before easing off that level. The Dow was up 1.3% to 29,860.32 in late trading. The S&P 500 was higher by 0.9% to 3,616.91, while the Nasdaq Composite was up by 0.6% to 11,893.71. Energy was the biggest gainer among the sectors, with health the only one seeing red on Monday.

West Texas Intermediate crude futures climbed by 3.1% to $41.36.

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