Light at the end of tunnel from vaccine, stimulus hopes

THE light has appeared at the end of the tunnel and stock investors are rushing headlong towards it.

US stocks rose last week and the Dow Jones Industrial Average topped 30,000 for the first time ever, as the prospects of a vaccine for millions of people all over the world appeared to be within reach. By the end of the first quarter, American biotech company Moderna expects to deliver 60 million vaccinations in the US alone.

This week, the record run could continue if legislators complete stimulus negotiations, which economists say is vitally important before Covid-19 overwhelms the US economy again.