S&P 500 as high as 4,500 next year, or 24% from here
JPMorgan said Monday’s surprise vaccine news is setting the stock market up for big gains next year, seeing the potential for S&P 500 to surge as much as 24% by the end of 2021. “The equity market is facing one of the best backdrops for sustained gains in years. After a prolonged period of elevated […]
The bull market will resume after the election, with 50% long-term upside, JPMorgan says
The stock market is poised to resume its bull market rally after the election, with nearly 50% upside still left to climb over the long term, JPMorgan said in a note to investors Monday. The U.S. market just suffered its worst week since March, but the macro positioning of investments is still bullish for stock investors […]
Why mega-cap tech stocks could rally another 15% by year-end under a Biden-helmed split government, according to Wedbush
Technology stocks in the FAANG, cloud software, and cyber security themes could rally 10%-15% by year-end with a Biden presidency and Republican Senate, according to Wedbush. This regime is the “Goldilocks election outcome” for tech stocks as a Biden presidency will ease US-China technology-policy issues while the Republican Senate decreases the prospect of major antitrust […]
US GDP will be back to pre-pandemic levels by mid-2021 under a Biden presidency and as vaccine progress continues, Goldman says
By Ben Winck November 09, 2020 Goldman Sachs updated its US gross domestic product outlook on Saturday, factoring in rising COVID-19 cases, a Biden presidency, and coronavirus vaccine updates. US GDP will grow 3.5% in the first quarter of 2021, the team led by Jan Hatzius said, citing fallout from record-high case counts. That’s half […]
Market nirvana’: JPMorgan says the S&P 500 will surge another 11% by early 2021 as the market faces its best backdrop in years
By Ben Winck November 09, 2020 President-elect Joe Biden’s victory and a divided Congress form a “market nirvana” scenario for investors, JPMorgan strategists said Monday. The team lifted their S&P 500 target for early 2021 to 4,000 in a note to clients, implying a roughly 11% rally from current levels. While Biden will push for […]
Big US tech stocks emerge as election winners
Before Americans knew the outcome of the 2020 US presidential election, investors had called a winner: high-flying technology stocks that have already soared this year. Shares of big tech companies such as Facebook, Microsoft, Apple and Amazon surged in the hours after the polls closed on November 3. By the end of the week, the […]
Pfizer, BioNTech say Covid vaccine is more than 90% effective—‘great day for science and humanity’
Pfizer and BioNTech announced Monday their coronavirus vaccine was more than 90% effective in preventing Covid-19 among those without evidence of prior infection, hailing the development as “a great day for science and humanity.” “I think we can see light at the end of the tunnel,” Pfizer Chairman and CEO Dr. Albert Bourla told CNBC’s Meg Tirell on […]
China October exports surge, imports rise amid global recovery
China exports grew at the fastest pace in 19 months in October, while imports also rose, official data showed on Saturday, as the world’s second largest economy continued to recover after being hit hard by the coronavirus crisis earlier this year.
Job growth stronger than expected in October, unemployment rate slides to 6.9%
Employment growth was better than expected in October and the unemployment rate fell sharply even as the U.S. faces the challenge of surging coronavirus cases and the impact they could have on the nascent economic recovery. The Labor Department reported Friday that nonfarm payrolls increased by 638,000 and the unemployment rate was at 6.9%. Economists surveyed by […]
Immune cells are responding to Covid six months after infection, study finds
Cellular, or “T-cell,” immunity against Covid-19 is likely to be present within most adults six months after primary infection, a new study said. Research by the U.K. Coronavirus Immunology Consortium (UK-CIC), Public Health England and Manchester University NHS Foundation Trust has found “robust T-cell responses” to the coronavirus six months after infection.