Energy ETFs power higher on Moderna news, on pace for best month since April

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Exchange-traded funds tracking energy surged higher Monday after Moderna Inc. said its COVID-19 vaccine was more effective, and more easily deployed, than one announced last week from Pfizer Inc. . The Energy Select Sector SPDR Fund was 5.5% higher at midday, the biggest gain among the 11 ETFs tracking sectors of the S&P 500 . The Vanguard Energy ETF was 5.2% higher, and the iShares U.S. Energy ETF gained 5%. The SPDR fund made a bigger jump last Monday, after Pfizer made its announcement, and so far this month’s gain is on track to be the best since April. Given the economic impact of coronavirus, though, energy is still the most beaten-down sector of 2020. In the year to date, the SPDR ETF is down more than 40%.
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