Markets rose on Monday.
The S&P 500 rose 0.4 percent to a record high and the STOXX Europe 600 rose 0.7 percent to also hit a record high.
“Most investors are expecting blockbuster earnings results and these will likely be peak earnings results,” said Jack Ablin, chief investment officer at Cresset Wealth Advisors.
“Continued earnings momentum should refuel investors’ confidence in the recovery amid slowdown concerns and drive a rotation back into Value,” said Bank of America’s Savita Subramanian in a note on Sunday.
Investors mostly shrugged off the continuing COVID-19 pandemic.
“The delta variant is ripping around the world at a scorching pace, driving a new spike in cases and death,” World Health Organization Director-General Tedros Adhanom Ghebreyesus said.
However, Dr Soumya Swaminathan, the WHO’s chief scientist, said that among vaccinated populations, the majority of cases “are mild or asymptomatic infections”.
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