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Stock impact report

Sports, entertainment and restaurant sectors will suffer through lengthy recovery: CIBC [Advisor.ca (Canada)]

Canadian Imperial Bank of Commerce (CM) 
Last canadian imperial bank of commerce earnings: 2/26 05:53 am Check Earnings Report
Company Research Source: Advisor.ca
© SherryVSmith_Images / ThinkstockA rapid third-quarter recovery is not in the cards for the Canadian economy, says CIBC World Markets Inc. in a new report.The firm sees a gradual resumption of economic activity in the months ahead as concerns about the Covid-19 outbreak ease, but not a quick return to business as usual, particularly in sectors such as sports, entertainment and restaurants, which it sees as highly vulnerable.“Any wishful thinking about things going back to normal by the summer have all but vanished,” the report said.Instead, CIBC expects that between now and July, “the infection curve will flatten. Social distancing will do the trick.” But this won’t set the stage for a rapid rebound.“After months of living the way that we all live now, it is natural to expect the desire to go back to normal as soon as possible. As a society, we should resist that temptation,” CIBC said, warning that a premature resumption of normal life would open the door to potential greater damage Show less Read more
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