US STOCKS-S&P 500, Dow hit all-time highs on vaccine optimism

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* Airlines, cruise operators soar on vaccine news
* Oil stocks, bank shares jump
* Stay-at-home winners underperform
* Indexes soar: Dow 4.49%, S&P 3.43%, Nasdaq 1.77%

(Updates to market open)
By Medha Singh and Shivani Kumaresan
Nov 9 (Reuters) - The S&P 500 and the Dow hit record highs
on Monday as the first successful late-stage clinical trial of a
COVID-19 vaccine sparked hopes of the economy emerging from a
pandemic-driven crisis.
The blue-chip Dow surged as much as 5.7%, also getting a
boost from Joe Biden clinching a tightly-fought presidential
election.
The companies hit hardest by months of travel bans and
lockdowns soared, with Boeing Co BA.N up 12.6% and airlines
.XAL and cruise line operators NCLH.N CCL.N all trading
20% to 30% higher.
Oil prices surged more than 10% and U.S. Treasuries sold off
after Pfizer PFE.N and BioNTech BNTX.O said the data showed
the vaccine was more than 90% effective in preventing COVID-19.
O/R
"This is extremely important and should give the market
confidence that Pfizer's candidate offers a breakthrough in
terms of reaching herd immunity at some point next year," said
Robin Winkler, strategist at Deutsche Bank Research.
Pfizer and BioNTech, the first drugmakers to show successful
data from a large-scale clinical trial, said they had found no
serious safety concerns so far and expect to seek U.S. emergency
use authorization later this month. By 10:21 a.m. ET, the Dow Jones Industrial Average .DJI
was up 1,273.09 points, or 4.49%, and the S&P 500 .SPX was up
120.44 points, or 3.43%, while the Russell 2000 small-cap index
.RUT surged 5.7% to an all-time high.
The S&P energy index .SPNY was on course for its best day
since April.
U.S. banks including Citigroup Inc C.N and Bank of America
Corp BAC.N , often seen as a proxy for the broader economy,
jumped about 9% each, while oil majors Exxon Mobil Corp XOM.N
and Chevron Corp CVX.N climbed about 10%.
By contrast, shares in technology and other companies seen
as "stay-at-home" winners were lower or gaining less.
The tech-heavy Nasdaq Composite .IXIC was up 211.01
points, or 1.77%, as Netflix Inc NFLX.O , Amazon.com Inc
AMZN.O and gaming company Activision Blizzard Inc ATVI.O
fell between 1.5% and 4.7%.
World stocks hit a record high earlier in the day and the
dollar remained weak as expectations of better global trade ties
and more monetary stimulus under President-elect Biden lifted
demand for risky assets. MKTS/GLOB
Treasury yields had fallen last week on expectations that
Biden would win the White House but the Senate would be
controlled by Republicans, potentially stifling a fiscal
stimulus package and putting the onus back on the Federal
Reserve.
Among other movers, McDonald's Corp MCD.N gained about
1.0% after it beat third-quarter revenue and profit estimates,
as U.S. customers ordered more hamburgers and fries in
drive-through outlets and on delivery apps. Advancing issues outnumbered decliners 5.95-to-1 on the NYSE
and 3.78-to-1 on the Nasdaq.
The S&P index recorded 138 new 52-week highs and one new
low, while the Nasdaq recorded 219 new highs and 11 new lows.