Dow Hits Record High On Pfizer Vaccine News, Biden Win

Wall Street surged on Monday and the Dow Jones Industrial Average hit a record high, after Pfizer said its vaccine was 90 percent effective in protecting people against Covid-19. U.S-based pharmaceutical giant Pfizer and German biotech firm BioNTech made the announcement Monday morning, citing data from their late-stage vaccine trial. The Dow, which had already soared by 1,700 points in premarket trading, was a hair short of 30,000 in the minutes after the opening bell, for a gain of over 5 percent. The S&P 500 rallied to a record high, surging by 3.6 percent. The Nasdaq gained just 1.2 percent. Read more at NBC News.