US stocks join global rally amid COVID treatment hopes
August 23, 2020
NEW YORK (AP) — Stocks plowed higher on Wall Street Monday, as hopes for a COVID-19 treatment and vaccine had investors looking ahead to the possibility of a healthier economy that has shed the virus.
The S&P 500 rallied 34.12, or 1%, to 3,431.28 and added to the all-time high it set last week, when it erased the last of its losses from the coronavirus pandemic. It followed up on solid gains for stock markets across much of Europe and Asia.
The Dow Jones Industrial Average rose 378.13, or 1.4%, to 28,308.46, and the Nasdaq composite added 67.92, or 0.6%, to 11,379.72.
Hope was rising as...