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Wall Street surges as recovery hopes overshadow virus worries; Dow up 2.4%

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Wall Street stocks surged early Tuesday on optimism about coronavirus vaccines as the New York Stock Exchange resumed physical floor trading for the first time since late March.

S&P 500 breached a major technical barrier of rising above 3,000 on Tuesday as business restarts and optimism about a potential coronavirus vaccine helped investors overlook Sino-US tensions.

About 30 minutes into trading, the Dow Jones Industrial Average was up 2.4 percent at 25,038.94. The broad-based S&P 500 gained 1.7 percent to 3,007.76, while the tech-rich Nasdaq Composite Index advanced 1.2 percent to 9,434.99.

Analysts pointed to announcements by a number of companies pursuing vaccines for coronavirus, including Merck, which said it would acquire

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