‘Enterprise software is recession proof,’ according to a new report that tracked how the pandemic affected 400 firms
By Rosalie ChanNovember 12, 2020 Cloud-based enterprise software companies seem recession-proof, according to a new report from OpenView Venture Partners with data from over 1,200 enterprise cloud software firms between 2018 and 2020, with 400 respondents this year. These companies responded quickly to the coronavirus pandemic and their software became a necessity for many customers, […]
‘We’re not going back to the same economy’: The rise of technology poses risks to low-paid service workers amid the ongoing recovery, Fed Chair Powell says
By Ben WinckNovember 12, 2020 The US economy won’t return to the exact same state it was in before the pandemic, Federal Reserve Chair Jerome Powell said Thursday. The health crisis is accelerating digitization throughout the economy, and Americans already slammed by the virus’s fallout are at the highest risk of losing their jobs, he […]
Goldman sees the S&P 500 rallying to 4,300 by end of 2021 on vaccine, divided government
Goldman Sachs is out Wednesday morning with a big call for clients. The firm has turned more bullish about the stock market on the back of the promising vaccine news and a divided U.S. government. Goldman hiked its year-end S&P 500 target to 3,700 from 3,600, a 4% rise from Tuesday’s close of 3,545.53. Goldman also expects the […]
Here’s when the results of the 2020 election will be finalized
Joe Biden is the president-elect of the United States, as NBC News projected Saturday, but the results of the election won’t be finalized until January. When Americans cast their ballots for president on Nov. 3, they weren’t voting directly for Biden or the incumbent, President Donald Trump, but rather for their state’s electors. Members of the […]
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 […]