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S&P 500 climbs to record high as vaccine hopes lift economy-linked stocks

December 1, 2020

US stocks gained on Tuesday, a day after the Dow Jones industrial average completed its best month since 1987.

The S&P 500 opened at a record high as vaccine progress continued to lift stocks battered the most by the coronavirus pandemic. Pfizer and BioNTech applied for regulatory approval for their vaccine in the European Union; if approved, the shot could begin to be distributed before the new year.

Separately, Moderna on Monday applied for emergency use authorization in the US for its vaccine.

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