The Dow Jones Industrial Average?rose 8.92 points, or 0.03%, to 26,680.87, the S&P 500 gained 27.11 points, or 0.84%, to 3,251.84 and the Nasdaq Composite added 263.90 points, or 2.51%, to a record 10,767.09. NEW YORK: Global equity markets rebounded on Monday on optimism the European Union would approve a recovery fund to help revive regional economies hit by the coronavirus, but worries about the pandemic's economic and human toll pushed gold prices higher. The euro rose to a 19-week high and Italy's borrowing costs fell to their lowest since early March on expectations for a fund of about 750 billion euros ($857.93 bln). European shares also rose on recovery fund optimism while encouraging data from three COVID-19 vaccine candidates lifted equities on both sides of the Atlantic, with the Nasdaq reaching a new closing high - the seventh record close this month. EU leaders appeared to be nearing agreement on the massive stimulus plan despite lingering tensions between them after four days of summit squabbling. Summit Chairman Charles Michel said he would present the 27 leaders with a new proposal and was confident it could be the basis for a deal many say is critical to dispel doubts about the bloc's very future. AstraZeneca shares rose 1.45% after hitting a record high on news its COVID-19 vaccine was safe and produced an immune response in early-stage clinical trials in healthy volunteers, though it was too early to call the drug a success. "We're finally getting the details on these Phase I, Phase II studies that we kind of all expected to be positive, but it,
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