XLV - Struggling defensive sectors losing even more appeal ahead of more stimulus: At the Open

Another $1.9T is set to hit the U.S. economy, including direct stimulus checks, after the Senate passed the COVID relief bill on party lines over the weekend.Goldman Sachs' Abby Joseph Cohen tells Bloomberg it's not just a stimulus package, but a "relief package that's getting us out of a hole."But after Friday's blowout headline payrolls number, Wall Street is getting more bullish on the recovery and growth this year."Reopening, fiscal stimulus, and pent-up savings should fuel very strong demand growth," Jan Hatzius, Goldman chief economist wrote, wrote in note that includes a forecast for a jobless rate of 4.1% at the end of 2021.Wells Fargo's Investment Institute boosted is forecast for U.S. GDP to end the year to 5.7% from 4.7% and inflation to 2.5% from 2.2%, while cutting its unemployment rate target to 5.5% from 6%.It now sees the S&P (SP500) (SPY) ending the year between 4,200 and 4,400,

For further details see:

Struggling defensive sectors losing even more appeal ahead of more stimulus: At the Open