Investors bet vaccine sparks revival in beaten down stocks

Investors expecting an imminent COVID-19 vaccine are beginning to buy bank stocks and industrials in anticipation of a roaring return in consumer confidence, though many remain wary of risks in sectors ravaged by the pandemic.

A woman holds a small bottle labeled with a "Coronavirus COVID-19 Vaccine" sticker and a medical syringe in this illustration taken, October 30, 2020. [Reuters]

The development of some kind of preventative medicine is seen as the best chance of halting the coronavirus, which has killed 1.2 million people and is the top issue for money managers eyeing the next major shift in financial markets.