U.S. stock futures are soaring amid news that a vaccine in development from Pfizer and German-based BioNTech was more than 90% effective in preventing Covid-19 in the Phase 3 study. The companies said they are planning to submit for Emergency Use Authorization to the Food and Drug Administration, which is expected in the third week of November.
“Today is a great day for science and humanity,” said Pfizer Chief Executive, Dr. Albert Courla.
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S&P futures are up 3.5%, while Dow futures are trading up 5.2% amid the news.
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