US stocks rallied on Monday after Moderna said its experimental Covid-19 vaccine is highly effective.

The Dow and the S&P 500 both notched new record highs.
The Dow (INDU) finished up 1.6%, or 471 points. The index closed only about 50 points below the 30,000 mark, a level it has not crossed in its history.
The S&P 500 (SPX) closed up 1.2%, and the Nasdaq (COMP) ended 0.8% higher.
Shares of Moderna (MRNA) closed 9.6% higher after the company said in a statement that the first interim analysis of Phase 3 trial results showed its vaccine candidate was 94.5% effective against coronavirus.

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