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03 Mar 2021 | 10:05

US to achieve herd immunity by end of summer 2021

(Sharecast News) - The US is set to reach herd immunity by Independence Day, reiterated an analyst who had previously predicted that same date. Analyst Phil Orlando told CNBC on Tuesday: "Maybe we weren't optimistic enough when I talked to you earlier in the year."

"These vaccines are working. The rollout is working, and if we can continue along this path, we will achieve herd immunity over the summer."

Back in January, Orlando predicted the economy would open months earlier than Wall Street expected.

"The Atlanta Fed, just as an example, has taken their first-quarter GDP estimate up to 10% on the basis of developments over the last couple of months," said Orlando. "And, a lot of Wall Street economists have taken full-year GDP up to numbers north of 6%."

The prediction comes in the wake of the US approving a third vaccine for emergency use, that from Johnson&Johnson. President Joe Biden has assured his countrymen that there will be enough supplies to vaccinate every adult by the end of May.

Orlando added that he expects the S&P 500 to break more records this year. He has a 4,500 year-end target on the index, which would mean a 16% jump from Tuesday's close.
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