That’s how much shares of American Express rose Monday, leading the way in a big day for the Dow Jones Industrial Average, after positive news about a potential COVID-19 vaccine spurred optimism that disruptions stemming from the pandemic may soon end.
Pfizer and BioNTech announced a new COVID-19 vaccine candidate was found to be 90% effective in clinical trials, spurring broad optimism among U.S. stock investors. American Express, Boeing, JPMorgan Chase, and Walt Disney were among the other biggest movers in the popular market gauge, which briefly rose past its February record of 29,551.42 before closing at 29,157.97, a 2.95% gain on the day.
“Stocks that have been beaten down by the severe disruption of the pandemic, such as those tied to travel and leisure, movie theaters, and theme parks, along with some retailers and restaurants, led the charge higher,” Charles Schwab said in its daily market update.
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