NEW YORK: Wall Street stocks jumped on Friday , with the Nasdaq racing to yet another record as progress on a coronavirus vaccine offset worries about spiking US case levels.
Investors cheered remarks from the head of German biotech firm BioNTech to the Wall Street Journal that a vaccine candidate would be ready for regulatory review by the end of the year. The US has been averaging more than 50,000 new coronavirus cases a day of late, leading more states where infections are spiking to roll back steps to reopen their economies after closures earlier this year.But airlines and hotel stocks rallied Friday, along with petroleum producers - sectors hard-hit by social distancing protocols.
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