U.S. equity markets opened at or near record highs Wednesday after a report indicated a coronavirus vaccine could come sooner than expected.

A U.K. researcher said a breakthrough has been made that cut the development time for a vaccine from two years to three years to 14 days, Sky News reported. The coronavirus outbreak has sickened more than 24,300 and killed 490, according to figures released Wednesday by China’s National Health Commission.

Also helping the major averages was the blowout ADP Employment Report, which showed the private sector added 291,000 jobs in January, easily exceeding the 156,000 jobs that economists surveyed by Refinitiv were expecting.

The early gains have the Nasdaq Composite trading in record territory while the S&P 500 and Dow Jones Industrial Average trade just below their own all-time highs. Read morte at FOX Business