S&P 500, Dow hit all-time highs on stimulus, coronavirus vaccine hopes

Topics S&P 500 | Dow Jones | Global Markets

The S&P 500 and the Dow scaled record highs on Wednesday as hopes of a working COVID-19 vaccine and fresh economic stimulus before the end of the year lifted demand for economically sensitive energy and financial shares. Seven of the 11 major S&P indexes were higher, with energy leading gains as crude prices climbed on hopes of a recovery in fuel demand.

Oil majors Exxon Mobil Corp and Chevron Corp gained 1% in early trading. Investors are banking on a long-awaited relief package to mitigate the economic damage from the COVID-19 pandemic.

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