NEW YORK (AP) — The Dow closed at a record high Monday, erasing the last of its pandemic losses, after a second drug company announced encouraging progress on developing a coronavirus vaccine. The S&P added to the record high it reached last Friday. The Dow rose 1.6% and the S&P added 1.2% after Moderna said its COVID-19 vaccine appears to be 94.5% effective, according to preliminary data. It comes just a week after Pfizer and BioNTech gave similarly encouraging numbers about their own vaccine candidate. Stocks of companies that would benefit the most from the economy climbing out of its recession led the way higher.
UNDATED (AP) — There’s more promising news on the COVID-19 vaccine front as Moderna says its shot provides strong protection against the coronavirus. Moderna said of 95 infections so far in its 30,000-person study, all but five were in people who got…
