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REUTERS) - NEWS THAT Pfizer Inc's experimental COVID-19 vaccine is more than 90% effective based on initial trial results renewed hope on Monday among world leaders, scientists and global investors that the battle against a pandemic that has killed over a million people could be won.

The MSCI world equity index <.MIWD00000PUS>, which tracks shares in 49 countries, and the S&P 500 touched all-time highs, lifted by stocks that were hit hard during the pandemic.

JPMorgan said on Monday it expected the S&P 500 index to hit 4,000 points by early 2021 and called Pfizer's COVID-19 vaccine update "one of the best backdrops for sustained gains in years."

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