S&P Futures, Global Stocks Soar To All Time High, Russell Limit Up On Covid Vaccine News Tyler Durden Mon, 11/09/2020 - 07:35 Biden in, COVID out. Global stocks and S&P futures exploded higher, hitting all time highs, following this morning's news that a Pfizer covid vaccine is more than 90% effective, which came at a time when stocks were already euphoric in the overnight session following the weekend's political news that Biden was in. "This is about the best the news could possibly be for the world and for the United States and for public health," said William Gruber, Pfizer senior vice president for vaccine clinical research and development. It was better than even the best result he had hoped for, he said. The news, which conveniently came just days after Biden was declared president elect by the media, sent Emini S&P futures up as much as 4%, last seen up 124 points to 3,634 or up 3.8%... ... and hitting new all time highs... ... pushing European stocks up 3.9%, led by travel, banks, energy and auto sectors... ... and Dow futures up 5%, or more than 1,400 points, to 29,650... ... the ETF of Russell 2000 ETF small-caps, the RTY, just hit the 7% limit up. Stocks that had struggled due to lock-down/restrictive measures related to the virus soared; cruise operators, airlines, hotels, amusement park/movie theater operators and casinos were among the early session’s top “lock- down” performers. Airline stocks surged, with the Stoxx 600 Travel & Leisure Index up as much as 7%, the most intraday since May 26, with the index reaching the highest since Match 9; British Airways parent IAG jumped 25%, cruise operator Carnival surged 18%, Ryanair gained 18% and hotel company Accor jumps 12%. U.S. airlines also jumped premarket, with American Airlines up 15% and Delta up 12%, while among cruise companies, Carnival Corp. jumps 17% and Royal Caribbean gains 15%. At the same time, stay at home stocks such as Peloton, Netflix and Zoom sank: PTON is down 5.2%, NFLX -3.3% and ZM -5%; Nautilus, Etsy and Wayfair also fell. The news also hammered companies that had boomed amid an insatiable need for Covid-19 tests: QDEL sank 14% as QGEN tumbled 12%; among smaller companies trading on lighter volumer were GNMK -6.1%, FLDM -2.8%. The news also helped crude oil explode up to 8% higher... ... while such flight to safety traders as Treasury yields reversed amid expectations the reflation trade may finally be unleashed should covid be vanquished, and the 10Y yield soared as much as 14bps higher, rising to a session high of 0.9338% before easing back to 0.91%. Developing