As Pfizer (PFE) and BioNTech (BNTX) revealed promising late-stage results for their coronavirus vaccine candidate, Dow Jones futures jumped Monday morning, along with S&P 500 futures. But as work-from-home plays sold off, Nasdaq futures cut gains.
A big stock market recovery, fuelled by election results amid rising cases of coronavirus, has taken place. Since their worst weeks since the March collapse, the Dow Jones, S&P 500 index and Nasdaq composite have had their best weeks since early April. In droves, leading stocks are breaking out.
CNN, ABC and CBS, according to The Associated Press. Although in at least Pennsylvania and Georgia, instant recalls are possible, with President Donald Trump pursuing legal challenges, the 2020 election seems to be over. Not for the Senate, though. The GOP looks likely to retain 50 seats, but could cling to a majority if on Jan. 5 it takes at least one of Georgia’s two runoff elections.
Pfizer/BioNTech Vaccine against Coronavirus News
The coronavirus vaccine from Pfizer/BioNTech is over 90 percent safe, the two firms said early Monday. After the Covid vaccine meets safety thresholds, Pfizer and BioNTech will likely request FDA emergency approval in late November.
Early Monday, Pfizer’s stock spiked. So did the stock of BioNTech, which is scheduled to vault above a buy point at the open on Monday.