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Market surges to record numbers Monday as Pfizer announces effective vaccine results

The Dow jumped more than 5% as markets opened Monday

Updated: November 9, 2020 - 10:04am

The Dow Jones Industrial Average on Monday morning jumped more than 5% or 1,500 points, an intraday record, following Pfizer Inc. announcement hours earlier that its coronavirus vaccine is testing 90% effective in late-stage trials.

The S&P 500 increased 3.7%. The Nasdaq Composite – a tech heavy index – had a relatively smaller gains, about 1.3%. 

Prior to the start of this morning's Wall Street trading, Dow Jones future climbed more than 1,500 points. S&P 500 futures leapt 4%.

Wall Street investors appear hopeful that one or more pharmaceutical companies will soon get a virus approved to people worldwide, with more than 1.2 million around the world having already died from the virus. 

Monday is also the first day of trading taking place after Saturday morning's call by most mainstream media outlets of the 2020 presidential election in favor of Democrat Joe Biden. 

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