U.S. equity markets recouped their early losses Tuesday as the first doses of the Pfizer/BioNTech COVID-19 vaccine were administered in the U.K. and the U.S. Food and Drug Administration delivered some encouraging news about the inoculation.

The Dow Jones Industrial Average climbed 64 points or 0.21% helped by Pfizer and Johnson & Johnson.

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A staff report issued by the FDA on Tuesday said the Pfizer/BioNTech vaccine is both safe and effective. The vaccine could receive emergency use authorization in the U.S. as soon as Thursday – two days after the first shots were given in Britain.

The S&P 500 was modestly higher at 0.14% while the Nasdaq Composite was little changed. Read more at FOX Business