(Bloomberg) -- U.S. stocks churned higher as investors piled into companies that will benefit most from a return to normal economic activity. Tech shares lagged behind, while gold slumped.The S&P 500 Index rose in afternoon trading, adding to gains on news that Joe Biden will nominate former Federal Reserve Chair Janet Yellen to be Treasury Secretary. The Nasdaq 100 was little changed, while small caps in the Russell 2000 jumped more than 2%. AstraZeneca Plc became the latest firm to deliver positive vaccine developments, bolstering demand for cruise-line operators and airlines. Stocks had been weaker on news that cases continued to surge around the country and after New York’s mayor warned the city would be in “dire, dire shape” without additional federal aid.Vaccine successes lately have added to a risk-on mood in markets and investors have snapped up assets that could benefit from the end of lockdowns and travel restrictions even as the virus rages across the nation. Investors have also started to anticipate Congress will again deliver a spending bill to stave off the economic effects of new restrictions aimed at slowing the virus.“In the short-term anything is possible and from a humanitarian perspective it is awful that the people who currently need the most help are not getting it,” said Jonathan Boyar, managing director at Boyar Value Group. “But with multiple viable vaccines on the horizon, I think the market will largely look through the horrible headlines. There certainly, however, will be some fits and starts along the way.”U.S. vaccinations against Covid-19 will “hopefully” start in less than three weeks, said Moncef Slaoui, head of the government’s Operation Warp Speed, on CNN’s “State of the Union” on Sunday. An advisory panel of the Food and Drug Administration is meeting on Dec. 10 to discuss emergency use authorizations.Here are some key events coming up:Minutes of the most recent Federal Open Market Committee meeting are due Wednesday.U.S. jobless claims, GDP and personal spending data come Wednesday.U.K. expected on Wednesday to deliver the government’s spending plans for next year.Thursday sees a policy decision and briefing from the Bank of Korea.U.S. celebrates the Thanksgiving holiday on Thursday.The week ends with Black Friday, the traditional start of the U.S. holiday shopping season.These are the main moves in markets:StocksThe S&P 500 Index climbed 0.7% as of 3:06 p.m. New York time.The Stoxx Europe 600 Index was little changed.The MSCI Asia Pacific Index increased 0.2%.CurrenciesThe Bloomberg Dollar Spot Index increased 0.3%.The euro dipped 0.4% to $1.1815.The Japanese yen depreciated 0.6% to 104.53 per dollar.BondsThe yield on 10-year Treasuries rose three basis points to 0.86%.Germany’s 10-year yield advanced one basis point to -0.58%.Britain’s 10-year yield advanced two basis points to 0.322%.CommoditiesThe Bloomberg Commodity Index fell 0.2%.West Texas Intermediate crude climbed 1.4% to $43 a barrel.Gold depreciated 2.1% to $1,832.37 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.