Early Monday morning, drugmaker Pfizer announced that their COVID-19 vaccine trial has shown to be 90% effective in early testing. The company filed for Emergency Use Authorization with the FDA Monday.

"This is about the best the news could possibly be for the world and for the United States and for public health," Senior Vice President for Vaccine Clinical Research for Pfizer William Gruber told Bloomberg.

The Pfizer vaccine is a two-dose vaccine, and patients will need about three weeks between shots. The national rollout of the vaccine will not start until the FDA issues authorization.

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In the moments after the announcement from the drug maker, the stock market shot up. Including shares of companies like the cruise ship industry.

Other vaccines are in Phase 3 trials, and news on those could come soon.