(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.) * Delta Air Lines to resume flying major routes in June * S&P 500 notches best day in nearly 6 weeks * Cyclicals lead gains among major S&P sectors (Updates to market close) By Chuck Mikolajczak NEW YORK, May 18 (Reuters) – U.S. stocks jumped on Monday, and the S&P 500 closed at a 10-week high, on encouraging early-stage data for a potential coronavirus vaccine and on the promise of more stimulus to lift an economy beaten down by the pandemic. Drugmaker Moderna Inc surged after the company said its experimental COVID-19 vaccine showed promising results in a small early-stage trial. After surging more than 32% from a multi-year low hit in March, the S&P 500 had been trading in a tight range in May as investors weighed the hopes of an economic recovery against the fears of another wave of infection as states lifted virus-led restrictions. “The fact that Moderna came out with the Phase 1 trial that seems to be positive, that certainly is igniting the storm,” said Ken Polcari, chief market strategist at SlateStone Wealth LLC in Jupiter, Florida. “That… Read full this story
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