US STOCKS-Wall St soars on hopes of stimulus, coronavirus vaccine

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* Moderna up on positive data for potential COVID-19 vaccine
* Carmakers rise as factories set to reopen
* Oil stocks boosted by jump in crude prices
* Indexes jump: Dow 3.24%, S&P 2.93%, Nasdaq 2.42%

(Adds comment, details; updates prices)
By Medha Singh and Ambar Warrick
May 18 (Reuters) - Wall Street's main indexes surged on
Monday as encouraging early data from a potential coronavirus
vaccine trial boosted sentiment, with investors also counting on
more stimulus to rescue the U.S. economy from a deep slowdown.
Drugmaker Moderna Inc MRNA.O said its experimental
COVID-19 vaccine showed promising results in a small early-stage
trial, boosting futures in premarket trading. Its own shares
jumped 23%. After surging about 34% from the multi-year low hit in
March, the S&P 500 has traded in a tight range this month as
easing of coronavirus-led restrictions sparked hopes of an
economic recovery even as it raised the risk of another wave of
infection.
"If there really is a workable vaccine that can be mass
produced, it really is a game changer for so many industries
about which we weren't so sure if the reopenings would solve
their problems," said Rick Meckler, a partner at Cherry Lane
Investments in New Vernon, New Jersey.
Battered travel-related stocks such as cruise line operators
Carnival Corp CCL.N , Royal Caribbean Cruises Ltd RCL.N and
Norwegian Cruise Line Holdings Ltd NCLH.N jumped 13% to 18%.
The airlines subindex .SPCOMAIR added 9.3% as Delta Air
Lines DAL.N said it would resume flying several major routes
in June. Markets also took heart from Federal Reserve Chair Jerome
Powell's remarks over the weekend on a gradual economic recovery
and his affirmation that more monetary stimulus was on the way
if required.
He stressed on the importance of a vaccine in establishing
economic normalcy as well.
"Powell's statement translates, at least for the moment,
into a security blanket for investors," said Andre Bakhos
managing director at New Vines Capital LLC in Bernardsville, New
Jersey.
At 11:00 a.m. ET, the Dow Jones Industrial Average .DJI
was up 767.76 points, or 3.24%, at 24,453.18, the S&P 500 .SPX
was up 84.03 points, or 2.93%, at 2,947.73. The Nasdaq Composite
.IXIC was up 217.89 points, or 2.42%, at 9,232.45.
The benchmark S&P 500 was on track for its biggest one-day
percentage gain in five weeks, with all the 11 major S&P sector
indexes trading higher.
Energy stocks .SPNY soared 6.4% after oil prices surged on
the prospect of higher demand as economic activity slowly
resumes across the globe. O/R
General Motors Co GM.N rose 8.7% and Ford Motor Co F.N
6.7% as they prepared to reopen their North American factories
in a push to restart work in an industry that accounts for about
6% of U.S. economic activity. Advancing issues outnumbered decliners by a 10.13-to-1
ratio on the NYSE and by a 5.39-to-1 ratio on the Nasdaq.
The S&P index recorded 19 new 52-week highs and no new lows,
while the Nasdaq recorded 78 new highs and five new lows.