BREAKING: Dow Futures Soar 330 Points as Vaccines Hope Extends Rally

Photo: Reuters

Investing.com - U.S. stocks are seen opening higher Tuesday, continuing November’s record-breaking gains, helped by the expected prompt delivery of Covid-19 vaccines and signs of a global economic recovery.

At 7:05 a.m. (ET), the Dow Futures contract rose 330 points, or 1.1%, S&P 500 Futures traded 36 points, or 1%, higher, and the Nasdaq 100 Futures climbed 91 points, or 0.8%.

The Dow Jones Industrial Average ended November almost 12% higher on the month, its best individual month since January 1987. The S&P 500 and Nasdaq Composite both gained around 11%.

Earlier Tuesday, American pharmaceutical giant Pfizer, and German partner BioNtech, announced that they have applied to European authorities for authorization to rollout their Covid-19 vaccine. This follows similar moves in the U.S. and the U.K.

This adds to Monday’s positive news from Moderna, with the biotech firm stating it was applying for U.S. and European emergency authorization for its vaccine candidate after full results from a late-stage study showed it was effective, with no serious safety concerns.

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