Thursday 8 July 2021

S&P 500 hits record high, COVID-19 cases rising again

The S&P 500 rose 0.3 percent to a record high on Wednesday.

“Traders will be watching as the S&P 500 tech index moves closer to its relative price high established last September,” said Jim Paulsen, chief investment strategist at the Leuthold Group. “A break above that level would certainly reinforce a sustained leadership cycle for tech.”

Meanwhile, though, the threat from COVID-19 lingers, with the US government deploying a COVID-19 surge team to provide public health support in southwest Missouri, where the spread of the virus is filling up hospital beds once again.

“We're already starting to see places with low vaccination rates starting to have relatively big spikes from the Delta variant,” said Dr Ashish Jha, dean of the Brown University School of Public Health.

Indeed, even in the UK, where 64.6 percent of the population are reportedly fully vaccinated but infections are nevertheless rising again, some scientists have condemned the government's reopening plans as “dangerous and unethical”.

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