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Wednesday, 11 November 2020

Deutsche Bank is bullish on stocks for the remainder of 2020

Deutsche Bank is telling us we should be bullish on stocks for the remainder of 2020: Stocks have rallied in the past few days, with Sunday and Monday seeing the largest two-day post-election rally in US stocks since 1900, according to Deutsche Bank. This could continue through to the end of the year, helping 2020 end on a brighter note than where it began for fund managers, says Financial Times Markets Editor Katie Martin (watch, runtime: 02:00). While the US election result is undoubtedly a factor for the market optimism, Pfizer and BioNTech’s major vaccine announcement is what propelled stocks on Monday. The end of the pandemic would provide the hard-hit hospitality, travel and energy industries with more certainty and allow them to rebound from their unprecedented downturns.

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