Nasdaq, S&P 500 Close at New Records as Biden Promises 100 Vaccines in 100 Days

As inauguration day nears, President-elect Joe Biden is making big plans and big promises for his first 100 days in office.

Last week, Biden said he will urge Americans to wear masks for his first 100 days to help stop the spread of COVID-19.

Today he pledged to distribute 100 million vaccine doses in his first 100 days in office.

COVID-19 cases are surging this week, averaging more than 200,000 cases per day for the last seven days.

The markets, however, appear to be pricing in a return to normal. The Nasdaq Composite and the S&P 500 both posted record-high closes on Tuesday.

Internationally, the vaccine rollout has officially begun. The first doses of the Pfizer Inc. (NYSE: PFE) vaccines were given to people in the U.K. this morning.

The U.S. could approve that vaccine for use as early as this week. A hearing is scheduled for Thursday at the FDA.

100 million doses would vaccinate 50 million people. The current population of the U.S. is approximately 330 million.

There are two more vaccines that are a few weeks behind Pfizer’s in the approval process. Moderna, Inc. (NASDAQ: MRNA) and AstraZeneca PLC (NASDAQ: AZN) have both released preliminary data from their trials with promising results.

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