Stocks rallied after Moderna said its experimental COVID-19 vaccine was nearly 95% effective in a clinical trial.

FILE – A street sign for Wall Street is seen outside the New York Stock Exchange, Thursday, Nov. 5, 2020. One of Wall Street’s big fears coming into this month was a contested U.S. presidential election. President Donald Trump is refusing to concede even though Democrat Joe Biden secured enough electoral votes to win the presidency. Yet the S&P 500 has climbed this month back to the edge of its record high. (AP Photo/Mark Lennihan)