Wall St set to jump as Pfizer says vaccine effective

S&P 500 futures soared 3.78%, while Dow contracts jumped 4.69% in response, almost doubling the day's gains. Nasdaq 100 E-minis gained 2%.

NEW YORK: Futures tracking the S&P 500 hit a record high on Monday after U.S. drugmaker Pfizer said its experimental vaccine was more than 90% effective in preventing COVID-19 based on initial data from a large study.

Pfizer and German partner BioNTech SE are the first drugmakers to show successful data from a large-scale clinical trial of a coronavirus vaccine. The companies said they have found no serious safety concerns so far, and expect to seek U.S. emergency use authorization later this month.