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Global indices cheer as Moderna's Covid vaccine data boost sentiment

Development on Moderna's candidate, recovery in Asia, corporate earnings propel markets towards fresh highs

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The Dow Jones Industrial Average rose 374.49 points, or 1.27 per cent, as of 8:58 pm (IST), to 29,854.30. The S&P 500 opened higher by 34.32 points, or 0.96 per cent to 3,619.47

Reuters London

3 min read Last Updated : Nov 17 2020 | 12:34 AM IST

Global stocks eyed a fresh record high on Monday as signs of economic recovery in Asia, strong corporate earnings, and additional positive data about a Covid-19 vaccine boosted investor sentiment. Moderna Inc's experimental vaccine was 94.5 per cent effective in preventing Covid-19 based on interim data from a late-stage trial, the company said on Monday, becoming the second US drugmaker to report results that far exceed expectations.

Wall Street opened higher on Monday. The Dow Jones Industrial Average rose 374.49 points, or 1.27 per cent, as of 8:58 pm (IST), to 29,854.30. The S&P 500 opened higher by 34.32 points, or

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