U.S. stocks raced higher after drugmakers reported progress in developing a COVID-19 vaccine an d Congressional negotiators kept

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U.S. stocks raced higher after drugmakers reportedÂ progress in developing a COVID-19Â vaccine and Congressional negotiators kept up talks on another relief bill.

U.S. equity markets raced higher Wednesday after drugmakers reportedÂ progress in developing a COVID-19Â vaccine while investors looked past dour employment figures as Congress worked toward another economic relief package. The Dow Jones Industrial Average gained 170 points, or 0.64 percent, in the opening minutes of trading while the S&P 500 and the Nasdaq Composite rose 0.4 percent and 0.18Â percent, respectively. The early advance had the Nasdaq on track for its 31st record-high close this year.Â

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