As fall arrives, American investors are fixated on two things: the eventual end of the Covid-19 emergency and how much stimulus the economy will receive until that happens. But science and common sense tell us that the pandemic won’t simply be conquered from one day to the next. Quicker, more convenient options are needed for applications like regular testing of students at an elementary school or screening cruise ship customers before embarking. Two hot investment themes, pharmaceuticals and leisure, have rallied in tandem as optimism has risen about a solution. Meanwhile, the S&P 500 Hotels, Restaurants & Leisure Index has rallied by more than 50% in five months.

Source: Wall Street Journal September 04, 2020 09:32 UTC