vaccine

Axon Capital’s Singh Sees Vaccine Boosting Travel, Entertainment Stocks | Investing News

NEW YORK (Reuters) – Services company stocks, especially those linked to travel and leisure, have room to rocket higher next year as consumers venture out again after spending on goods but cutting back on services during the pandemic, hedge fund manager Dinakar Singh said.

With vaccines against Covid on the horizon, Singh, who runs Axon Capital, expects a flood of pent-up demand for travel to see far-flung business clients and employees, visit grandparents and take vacations.

“Things are going to be explosive,” Singh, who headed Goldman Sachs’ proprietary trading unit before forming his own fund in 2005, said at the Reuters Global Investment Outlook Summit. “There well could be a huge surge of pent up demand for activities that have been restricted because of the virus.”

After personal savings rates climbed early in the pandemic, stocks broadly recovered. The Standard & Poor’s 500 index has gained 12% since January and

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Hyatt CEO Says China Offers Proof Hotels Don’t Need a Vaccine to Recover From Coronavirus

A coronavirus vaccine isn’t necessarily a must-have ingredient to revive the struggling hotel industry, according to Hyatt CEO Mark Hoplamazian.

Hotel analysts and executives spent the last several months saying the industry would not recover from the coronavirus-induced cratering in travel demand until a vaccine or treatment was in widespread distribution. But China’s tough crackdown on movement and social interaction during the early months of the pandemic paid off. The country now leads the world in hotel performance, and Hyatt is even hosting group business events at its properties in Greater China.

“China serves as a great example that travel recovery is possible even without pharmaceutical treatments or a vaccine as long as proper, well-coordinated actions are taken to significantly reduce the spread of the virus,” Hoplamazian said Tuesday during an investor call.

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Hyatt’s Greater China —

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Travel & Leisure ETFs Jump on Vaccine Optimism

The development in the potential coronavirus vaccine has infused strong optimism into the broader markets. This is especially true, as Moderna Inc. MRNA has inched closer to a vaccine following promising early data (read: Moderna Inches Closer to Coronavirus Vaccine: ETFs to Shine).

The data demonstrates that vaccination with mRNA-1273 elicits a robust immune response across all dose levels as it produced neutralizing antibodies in all 45 patients. In the trial, each participant received a 25, 100 or 250 microgram dose, with 15 people in each dose group. Participants received two doses of the potential vaccine. The positive result has pushed the vaccine into the phase 3 trial, which is slated to start on Jul 27. The trial will enroll 30,000 participants across 87 locations, according to ClinicalTrials.gov. Participants in the experimental arm will receive a 100 microgram dose of the potential vaccine on the first day and another dose

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