On Monday, U.S. stock-index futures rocketed after Pfizer and BioNTech SE said their COVID-19 vaccine candidate achieved “success” in the first interim analysis from a Phase 3 study.
Futures for the Dow Jones Industrial Average were up 1,537, or 5.5%, at 29,741, those for the S&P 500 index up 146.55 points, or 4.2%, at 3,647.25, while Nasdaq-100 futures advanced 146.55 points to reach 12,148.50, a gain of 0.6%.
Markets were ebullient early Monday after Pfizer PFE, +0.02% and BioNTech BNTX, said their BNT162b2 vaccine candidate was found to be more than 90% effective in preventing COVID-19 in trial participants without previous evidence of SARS-CoV-2 infection.
The companies said they are planning to submit for Emergency Use Authorization (EUA) to the Food and Drug Administration soon after the safety milestones are met, which is currently expected in the third week of November.
MacDailyNews Note: In pre-market trading, Apple is up marginally (+$1.38) to $120.07, (+1.16%).