S&P 500 Index opens decisively higher above 3,600 on coronavirus vaccine headlines

• Wall Street's main indexes started the new week on strong footing.
• Moderna said its vaccine candidate is 94.5% effective.
• Energy stocks post impressive gains to fuel the rally.

Major equity indexes in the US opened the first day of the week in the positive territory as investors cheer the latest headlines on the coronavirus vaccine. As of writing, the Dow Jones Industrial Average was up 1.2% on the day at 29,833, the S&P 500 was gaining 0.7% at 3,610 and the Nasdaq Composite was rising 0.4% at 11,983.

Moderna announced on Monday that the interim analysis of its coronavirus vaccine candidate showed an effectiveness of 94.5%. Additionally, the company stated that it already has millions of dozes of its vaccine ready to ship as soon as the FDA approves it. 

Among the 11-major S&P 500 sectors, the Energy Index is up 3.2% supported by surging crude oil prices. At the moment, the barrel of West Texas Intermediate (WTI) is up 3.3% on the day at $41.45. On the other hand, the defensive Real Estate Index is trading flan.

S&P 500 chart (daily)