Stocks finished higher on additional positive vaccine developments.
For the second straight Monday, news that vaccine trials have shown highly effective rates – this time from Moderna – is powering equity markets higher to start the week.
Interest rates are higher with the 10-year Treasury yield above .90 percent, up from .70 percent two months ago.
Cyclical assets led the way.
Financials and energy were the best sector gainers and oil prices were up better than 2 percent. Crude oil was $41.46 a barrel, up $.12.
Gold fell $.70 to $1,887.
Technology trailed, with the NASDAQ closing relatively weaker than the Dow and S&P 500.
U.S. stocks hit fresh highs on Monday, having risen more than 60 percent from the March lows.