Here are five things you must know for Wednesday, Nov. 18:
1. — Stock Futures Point Higher
Stock futures rose Wednesday after Pfizer (PFE) – Get Report said its coronavirus vaccine candidate reached a 95% efficacy rate, topping that of Moderna (MRNA) – Get Report, following final analysis of its late stage trials.
Contracts linked to the Dow Jones Industrial Average rose 171 points, S&P 500 futures gained 15 points and Nasdaq futures were up 25 points.
Pfizer and its German partner, BioNTech (BNTX) – Get Report, said the efficacy rate of the vaccine was consistent across all age and race demographics and based on a total case cohort of 170. Interim results published last week indicated an efficacy rate of 90% from a cohort of around 94 patients.
The companies said they will apply for emergency use authorization from the Food and Drug Administration in the coming days.
Wall Street has been encouraged by progress toward development of a coronavirus vaccine but remains keenly aware that a shot remains months away while infection numbers continue to rise.
This is an online news portal that aims to share latest news, usa news, politics, business, tech, health, fashion, sports, entertainment and much more stuff like that. Feel free to get in touch with us!