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S&P 500, Nasdaq hit record highs on recovery optimism

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Reuters

By Devik Jain (Reuters) – The S&P 500 and Nasdaq hit record highs on Tuesday, boosted by oil and travel-related stocks, after a full U.S. approval of a COVID-19 vaccine raised hopes of a quicker economic recovery. Seven of the 11 major S&P sectors advanced in early trading, with energy, industrial and financial stocks building on Monday’s gains after the U.S. FDA fully approved Pfizer’s COVID-19 vaccine. Cruise operators including Carnival Corp rose more than 3%, while casino companies MGM Resorts and Wynn Resorts added between 2.9% and 4.7% on hopes that the approval would increase U.S. vacci…

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