November 11, 2020

Coronavirus latest: Texas hits 1m Covid cases while northern England’s death toll soars

Peter Wells in New York

The number of people currently hospitalised with coronavirus in the US surpassed its April peak on Tuesday as states reported a single-day record of more than 130,000 new cases.

The number of coronavirus hospitalisations jumped to 61,964, up from 59,275 on Monday, according to Covid Tracking Project data.

That cruised past the previous peak of 59,940 on April 15 when northeast states like New York and New Jersey were hit hard during the early stages of the pandemic and medical facilities struggled to cope with the rapid influx of patients.

Over the summer, when sunbelt states battled a surge in cases, nationwide hospitalisations peaked at just over 59,700 in late July.

Alaska, Arkansas, Colorado, Kentucky, Montana, Oregon, Oklahoma, Tennessee, Wyoming and eight of the 12 states comprising the Midwest region on Tuesday reported their highest levels of hospitalisations of the pandemic, according to a Financial Times analysis of Covid Tracking Project data.

People wait in cars as they queue for drive-in Covid-19 testing in Milwaukee

That is two fewer than Sunday’s tally of 19, which marked the highest proportion of states with record hospitalisations since mid-April.

States collectively reported a record 130,989 cases on Tuesday,

These stocks would benefit the most from a vaccine-driven economic recovery, Goldman says

The Wall Street Bull (The Charging Bull) is seen during Covid-19 pandemic in New York, on May 26, 2020.

Tayfun Coskun | Anadolu Agency via Getty Images

(This story is for CNBC Pro subscribers only.)

Goldman Sachs believes the eventual arrival of a vaccine is expected to turbocharge the economic recovery and corporate earnings growth, and certain stocks stand to receive the biggest boost.

The bank screened the S&P 500 for stocks with the lowest consensus 2021 earnings estimates relative to their realized 2019 profits. These names are expected to have earnings next year that are still less than half the level in 2019. Now with the economic recovery accelerating, this list of companies could see a drastic rebound in profit estimates from here and have the potential to lead the market gains going forward, Goldman said.

“For investors searching for individual stocks that would benefit most from economic recovery, we screened for companies where the largest gap exists between the forecast level of consensus 2021 EPS and the level of pre-pandemic profits in 2019,” David Kostin, the bank’s chief U.S. equity strategy, said in a note on Wednesday.

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