US STOCKS-S&P 500, Dow set to surge as vaccine moves step closer

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* Airlines, cruise operators soar on vaccine news
* Stay-at-home winners retreat
* Futures: Dow up 5%, S&P up 4%, Nasdaq down 1.2%

(Adds comment, details; updates prices)
By Medha Singh and Shivani Kumaresan
Nov 9 (Reuters) - U.S. stock prices surged on Monday as news
of the first successful late stage COVID-19 vaccine trials
stirred hopes of the economy emerging from a year of
pandemic-driven crisis.
With markets also benefitting from a bounce after Joe
Biden's clinching of a tightly-fought presidential election,
futures showed the S&P 500 on track to open at a record high
after the news from Pfizer PFE.N and German partner BioNTech
BNTX.O .
The companies hit hardest by months of travel bans and
lockdowns soared, with Boeing Co BA.N up 15%, and airlines
AAL.O UAL.O and cruise line operators NCLH.N , CCL.N all
between 20% to 30% higher.
Pfizer shares jumped 13% while futures tracking the
small-cap Russell 2000 index RTYcv1 jumped 7% to hit its upper
trading limit by 07:38 a.m. ET.
Dow E-minis 1YMcv1 jumped 5% while S&P 500 E-minis EScv1
gained 3.36% to 3,618.5 points; the daily up limit is at 3,746.
"This is very very important (news) because it validates the
market view that the economy and earnings can receive that
growth path that they had before the (COVID-19) crisis struck,"
said Andrea Cicione, Head of Strategy at TS Lombard in London.
U.S. banks including Citigroup Inc C.N , Bank of America
Corp BAC.N and Goldman Sachs Group Inc GS.N , often seen as a
proxy for the broader economy, jumped between 5% and 8% after
Pfizer and BioNtech said the data showed the vaccine was more
than 90% effective in preventing COVID-19.
The companies, the first drugmakers to show successful data
from a large-scale clinical trial, said they had found no
serious safety concerns so far, and expect to seek U.S.
emergency use authorization later this month. "The bigger driver of the economic outlook is from the
outside factors," said ING analyst Carsten Brzeski. "Right now
that means the development of a vaccine."
By contrast, shares in tech and other companies seen as
"stay-at-home" winners were lower or gaining less.
Nasdaq futures NQcv1 were down 135.75 points or 1.12% with
Netflix Inc NFLX.O dropping 5.6%, gaming company Activision
Blizzard, Inc ATVI.O and Amazon.com AMZN.O down about 3% and
Apple Inc AAPL.O marginally lower on the day.
Biden's victory in Pennsylvania on Saturday put him above
the 270 Electoral College votes needed to secure the presidency,
four days after Election Day, although President Donald Trump
does not plan to concede anytime soon.