applied for emergency-use authorization from the US Food and Drug Administration on Friday for their experimental coronavirus vaccine. Both companies gained on the news.
Approval for a vaccine comes at a critical point for the US economy. The country reported a record 182,832 new COVID-19 cases on Thursday, according to Major cities continue to implement stricter lockdown measures to combat the virus's community spread. The restrictions threaten to cut into critical holiday season spending and slow the US economic recovery even further. California Governor Gavin Newsom set a month-long curfew on Thursday, and public health authorities are warning against traveling for Thanksgiving.
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