Stock markets shot up this morning, with the Dow up 6%, the Russell 2000 index of small-cap stocks up 7.5% at one point, and the S&P 500 up 4.5%.
Pretty much every sector was along for the ride. Utilities, real estate, pot stocks, and energy all rose as sectors that have lagged behind are now catching up.
It’s all because of some great news on the Covid-19 vaccine front. American Pfizer Inc. (PFE) and German BioNTech SE (BNTX) just released some preliminary results from their vaccine candidate, showing that it prevented over 90% of Covid-19 infections.