NEW YORK - News this month of three promising coronavirus vaccines has helped push the Dow Jones Industrial Average over 30,000, but some investors worry that slow vaccination rates may weaken next year’s expected economic recovery.
“To be certain that the world will be back to normal by mid-next year because a vaccine is available is an aggressive assumption,” said David Albrycht, chief investment officer at Newfleet Asset Management. “The answer is not the vaccine; it’s vaccinations. The vaccine needs to be widely adopted and accepted for it to work,” said Ernesto Ramos, head of equities at BMO Global Asset Management.
Ramos said those estimates may be overly optimistic and the economic benefits of vaccinations will not be apparent until the second half of next year, increasing chances that the recent U.S. economic slowdown could worsen. “The successful vaccination of seniors and front-line workers could expedite the renormalization process well before herd immunity is achieved,” he said. The S&P 500 may reach 4,050 by the end of 2021, up about 13% from its current level, he estimated.
Wrong. 1. Old and at risk people will get the vaccine and mortality will drastically drop 2. The percentage who will get the vaccine will continue to increase once joe tells those with tds that it is safe. Take the high risk “herd” out of the equation and this thing is over.
Dow was 20k in Apr and 30k in Nov the awakening is going to be brutal...youll need to sell the iphone 15 for 5k and Alphabet needs a coast to coast public education multi billion contract...
Need a poll of older population to see if they will take the vaccine, since they account for the vast majority of the mortality issues.
thanks for this news
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