The S&P 500 Index (SPX) rose to a new all-time high on Monday after Pfizer and BioNTech announced that their experimental vaccine for COVID-19 was “more than 90% effective.”. At the time of writing, the SPX is up 3.75% on the day at 3,640.
Meanwhile, the Dow Jones Industrial Average has also reached a new all-time high and is currently gaining 5.3% at 29,823. Finally, the Nasdaq Composite is up 0.8% at 11,979.
Among the top 11 sectors of the S&P 500, the energy sector index is rising more than 16% due to the rise in oil prices. In addition, the financial sector index gains more than 8% thanks to an increase of more than 13% observed in the yield of US 10-year Treasuries.
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Credits: Forex Street
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