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Added on the 19/10/2020 21:15:43 - Copyright : Wochit
On Wednesday Credit Suisse Strategists revealed the key to investing in 2021 is preparing for a virus-free economy in 2022. In a note to clients, the team initiated a 2021 S&P 500 price target of 4,050. Business Insider reports that the target implies a 12% rally from Tuesday's closing level. Various coronavirus vaccines are vying for regulatory authorization. That led Credit Suisse to "de-emphasize the near-term" and focus on how the US economy would launch out of its virus slump. The team said "the virus will be a fading memory" in 2022 and the rotation to cyclical stocks will be "largely behind us."
UK Prime Minister Rishi Sunak arrives to give evidence at Britain's Covid-19 inquiry. During the pandemic he was Britain's Finance Minister, and has faced criticism for his implementation of a scheme called 'Eat Out To Help Out'. Designed to revive demand for restaurants after they were closed in Covid lockdowns, the scheme has been criticised for potentially helping spread the disease, with senior scientists saying they weren't consulted. IMAGES
Boris Johnson leaves a public inquiry into his handling of the Covid-19 pandemic after attending the first of two gruelling days in the witness box. The former British prime minister apologised for "the pain and the loss and the suffering" caused by the pandemic but defended his government. Johnson has faced a barrage of criticism from former aides for alleged indecisiveness and a lack of scientific understanding during the crisis. IMAGES
Did you give birth during the pandemic? Were you pregnant at the time? Have your say and help the UK Covid-19 Inquiry to understand the impact of Covid-19 and shape the future of generations to come.
The World Health Organization will continue pushing until it finds an answer to how the Covid-19 pandemic started, the agency chief says, following a report suggesting it had abandoned the search. SOUNDBITE
U.S. President Barack Obama attends an outdoor arrival ceremony in heavy rain, as the first sitting U.S. president to visit Laos. Rough Cut (no reporter narration).