Dow briefly tops record close as stocks open higher on Veterans Day

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U.S. equities rose at the start of Wednesday’s session as investors gauged how their portfolios were likely to fare if an effective COVID-19 vaccine materialized next year. The S&P 500 rose 0.6% to 3,565. The Nasdaq Composite added 1.1% to 11,685. The Dow Jones Industrial Average advanced 45 points, or 0.2%, to 29,465. Hopes for a viable remedy to the coronavirus, following Pfizer and BioNTech’s promising vaccine results, have spurred gains in the most beaten-down stocks during the pandemic which had failed to share in the market rally since March. Shares of Lyft were up after the ride-hailing app said it recovered more than half its business from pre-pandemic days in the third quarter.
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