potentially successful vaccine sent travel, entertainment and tourism companies surging. The Dow declined shortly after news crossed that New York would put restrictions on bars, restaurants and gyms as COVID-19 infections rose in the state.Markets have been riding a wave of relief over hopes for a potential vaccine to beat back the pandemic.
The S&P 500 rose 0.8%, to 3,572.66 and is just 8 points below the record high it set in September. The technology-heavy Nasdaq composite rose 2%, to 11,786.43.While several significant risks remain for Wall Street broadly, the optimistic case that investors are embracing is that one or more coronavirus vaccines could help corral the virus by the second half of next year, encouraging people to return to.