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US stocks join global rally amid COVID treatment hopes
Stocks closed higher on Wall Street Monday, adding to their record-breaking run from last week. The S&P 500 climbed 1%, following up on solid gains for stock markets across much of Europe and Asia. Hope was rising as pharmaceutical companies continue to work toward a possible vaccine for COVID-19 and after the U.S. government on Sunday approved an emergency authorization to allow the use of convalescent plasma to treat patients. Airlines and other companies whose profits are closely tied to the economy rose, as the market's gains spread out beyond just Big Tech giants.