Stock futures surge, with Dow futures up 1100 points, after Pfizer vaccine news

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U.S. stock futures extended what already were strong gains, following the news that the vaccine being developed by Pfizer and BioNTech was more than 90% effective in preventing COVID-19. Futures on the Dow Jones Industrial Average leapt 1,116 points, and those on the S&P 500 rose more than 3%. Markets already were pointing to strong gains due to the removal of uncertainty after former Vice President Joe Biden declared victory.
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