U.S. stock market futures have risen sharply in the past hour after Pfizer announced that the coronavirus vaccine it has been developing with BioNTech was more than 90% effective in preventing infections.
Commenting on the results, “the efficacy data is really impressive. This is better than most of us anticipate. I would have loved an efficiency of 70% or 75%. 90% is very impressive for any vaccine, “said William Schaffner, an infectious disease expert at Vanderbilt University Medical Center.”The study has not been completed yet, but nonetheless, the data seems very robust“.
As an initial market reaction, the futures of the S&P 500 have reached a new all-time high at 3,648. Additionally, Dow futures are up 2.45% and Nasdaq 100 futures are up 2.2%. Finally, the Russell 2000 index has reached the daily limit after this news.
S&P 500 15 minute chart
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Credits: Forex Street
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