The COVID-19 pandemic has had devastating health impacts and delivered a significant economic shock. In the United States, employment has fallen by 10 million workers (7 per cent). In leisure and hospitality, the unemployment rate is 16 per cent and 2 million workers are unemployed. Federal government debt-to-GDP is likely to reach an all-time high of over 100 per cent. Yet the S&P 500 is close to its all-time high, recorded in September 2020. It’s not hard to see why – tech stocks make up a quarter of the S&P 500 market cap.
UQ alumnus Dr Jason Hall, lecturer in finance at the University of Michigan Ross School of Business, discusses short- and long-term implications of the pandemic, the U.S. election and progress of a vaccine on different industries. Specifically, what do share prices and analyst earnings forecasts tell us about likely industry outcomes?
The webinar is hosted by Dr Min Zhu, Senior Lecturer in Finance at UQ Business School.