The Senate Banking Committee will hold a hearing for Stephen Miran, Trump’s nominee for the Federal Reserve Governor position vacated by Adriana Kugler. Miran pledged to uphold the central bank’s independence and dual mandate of price stability and maximum employment. The hearing is scheduled to start at 10 a.m. ET.

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1. Pfizer has announced that its Covid-19 vaccine is 90% effective in preventing the virus, based on early trial data. The news has sparked optimism in the fight against the pandemic.

2. Tesla has been added to the S&P 500 index, marking a significant milestone for the electric car company. The inclusion will take place on December 21.

3. The Dow Jones Industrial Average has hit a record high, surpassing 30,000 points for the first time ever. The milestone comes amid positive news about potential Covid-19 vaccines.: Senate Banking Committee holds confirmation hearing for Trump Fed nominee Miran