The Dow picked up steam in intraday trading following Pfizer (PFE) - Get Pfizer Inc. Report and BioNTech's (BNTX) - Get BioNTech SE Report U.K. vaccine rollout. The U.K. began distributing the vaccine starting this morning.
The U.S. Food and Drug Administration is meeting later this week to decide whether or not to grant Pfizer and BioNTech's vaccine an Emergency Use Authorization. If the FDA does approve the vaccine, then distribution in the country could begin within 24 hours, according to Health and Human Services Secretary Alex Azar.
The U.S. said it would have enough COVID-19 vaccine doses to let most Americans get inoculated by the summer. The New York Times reported that federal officials last summer turned down an offer from Pfizer to sell the country more doses of its vaccine.
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