All 3 Major US Stock Indexes Hit Record Highs On Hopes Of COVID-19 Vaccine, Relief Bill

NEW YORK (Pakistan Point News / Sputnik - 09th December, 2020) Wall Street's three key indexes all hit record highs for the second time in three sessions as stock markets raced up on expectations of imminent US approval for the coronavirus vaccine and Congress passing a coronavirus relief bill.

The Dow Jones Industrial Average, Wall Street's broadest stocks gauge, rose 0.4 percent to close at 30,174, after a record high at 30,246.

The S&P 500, a barometer for the top 500 US stocks on the New York Stock Exchange, rose 0.3 percent to finish at 3,703, after setting an all-time high of 3,708.

The Nasdaq Composite Index, which counts on the performance of US tech stock giants such as Facebook, Apple, Amazon, Netflix and Google, rose 0.5 percent to conclude the day's trade at 15,583, after touching a record high at 12,595.

Pfizer is awaiting approval from the US food and Drug Administration for emergency use of its coronavirus vaccine, which it plans to roll out within 24 hours of authorization. The vaccine developer said it has at least 100 million shots for US use in its first batch of manufacture.

In Congress, Democrats and Republicans are trying to reach agreement on a $908 billion fiscal relief plan for the pandemic.