Todd Spangler NY Digital EditorU.S. markets surged Monday on news that Pfizer’s COVID vaccine was more effective than expected and after the weekend news that Joe Biden was the projected winner of the U.S.
presidential election.Ahead of markets opening Monday, Dow Jones Industrial Average futures boomed 5.5%, promising to push the index above its pre-COVID record high from February.
S&P 500-related futures were up 4% before the opening bell.Stocks of theater chains, which have been debilitated during the pandemic, soared in premarket trading.
AMC Entertainment, which has faced the prospect filing for bankruptcy, boomed 80%, and Cinemark climbed 40%.Theme park stocks also surged.
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