Stock-index futures were already on the rise after Democrat Joe Biden was projected the winner of last week’s presidential election over the weekend — all but eliminating one source of uncertainty. Then, Pfizer Inc. and BioNTech early Monday reported what was definitively good news on their COVID-19 vaccine, and a textbook example of a “risk-on” rally was under way. But analysts warned against reading too much into the election and vaccine news, warning that some big unknowns remain to be resolved. It is worth letting the dust settle after recent big moves. There are risks to every rally and while most believe the vaccine news is a huge positive for the market, there are a lot of unanswered questions. One of those questions is how long it’ll take a vaccine to become available to the masses. Some investors think market participants got ahead of themselves, looking past economic uncertainty that hasn’t been fully dispelled despite election clarity and prospects for an effective vaccine. The vaccine result clearly raises hopes that a return to normality is within touching distance, and while that is extremely positive for markets and businesses, we should be mindful that the economic impact of the pandemic is still being felt around the globe. Often the initial knee-jerk response of markets to big events, positive or negative, is an overreaction, which is tempered over time. Experts caution that investors should be prepared to “drip feed” money into the market on dips but shouldn’t be hasty to entirely discard safe-haven assets, which may have become “bloated” holdings in some portfolios, altogether.