Dow soars to first intraday record in 9 months on upbeat report on Pfizer-BioNTech coronavirus vaccine candidate, Biden presidency

/ / News

U.S. stock benchmarks notched record highs early Monday after a Pfizer Inc. and BioNTech coronavirus vaccine candidate showed a 90% efficacy in Phase 3 trials. The news on the experimental drug comes as Democrat Joe Biden’s electoral victory, projected on Saturday, laid the groundwork for a powerful rally. The Dow Jones Industrial Average advanced 1,550 or near 29,853, up 5.1% and trading at its highest level, above an intraday record, since Feb. 12. The S&P 500 index was trading at its own record at 3,636, up 3.6%, trading around an intraday record, while Nasdaq Composite Index was climbing 1.2% at 12,058.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.