US STOCKS-Futures rise as vaccine progress fuels recovery hopes

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* Futures up: Dow 0.49%, S&P 0.43%, Nasdaq 0.25%

Nov 23 (Reuters) - U.S. stock index futures rose on Monday
as hopes that the first COVID-19 vaccine could be available
within weeks renewed bets of a swift economic recovery next
year.
The U.S. Food and Drug Administration is likely to approve
in mid-December the distribution of the vaccine made by Pfizer
Inc PFE.N and German partner BioNTech 22UAy.DE , a top
official of the government's vaccine development effort said on
Sunday. Global equity markets received a boost earlier on Monday as
AstraZeneca Plc AZN.L became the latest major drugmaker to say
its COVID-19 vaccine could be around 90% effective, although its
shares fell 1.8% as some traders perceived the efficacy data as
disappointing compared with rivals. MKTS/GLOB
"Today's vaccine news is positive, but it is only partly
responsible for the rally in stock markets this morning, which
is also being driven by the news that the United States hopes to
start the vaccination program in under three weeks," said Philip
Shaw, chief economist at Investec in London.
At 7:07 a.m. ET, Dow e-minis 1YMcv1 were up 142 points, or
0.49%, S&P 500 e-minis EScv1 were up 15.25 points, or 0.43%,
and Nasdaq 100 e-minis NQcv1 were up 30 points, or 0.25%.
Evidence of high efficacy rates in experimental vaccines
lifted the benchmark S&P 500 .SPX to a record high earlier
this month, although gains have since been capped by concerns
around more lockdowns to contain a surge in infections.
Nevada on Sunday became the latest U.S. state to tighten
restrictions on casinos, restaurants and bars, while imposing a
broader mandate for face-coverings over the next three weeks.
After data last week signaled a faltering labor market
recovery, flash readings of business activity surveys due later
in the day are expected to show the manufacturing and services
sectors expanded at a slower pace in November.
In the absence of new fiscal stimulus, investors have again
turned to the Federal Reserve for signs of more monetary
support, although Treasury Secretary Steven Mnuchin last week
pulled the plug on some of the central bank's pandemic emergency
lending programs. In company news, shares of drugmaker Regeneron
Pharmaceuticals Inc REGN.O jumped 5.7% in premarket trading
after the FDA on Saturday granted emergency use authorization to
its COVID-19 antibody therapy.