NEW YORK (AP) — US stock indexes are drifting close to their record highs Wednesday, as hopes for a coronavirus vaccine coming in the future push some investors to look past the worsening pandemic in the present.
The S&P 500 was 0.2% higher in afternoon trading after Pfizer and BioNTech reported updated data suggesting their potential COVID-19 vaccine may be 95% effective.
Despite the modest moves for indexes, optimism was apparent across the market. The majority of stocks across Wall Street were rising.
Companies that would benefit most from a healing, reopening economy were leading the way, such as airlines and banks.