Markets rise, COVID-19 still a threat

Markets were mostly higher on Wednesday.

The S&P 500 rose 0.1 percent, the STOXX Europe 600 rose 0.3 percent and the Nikkei 225 rose 0.5 percent.

CFRA Research’s chief investment strategist Sam Stovall told CNBC on Tuesday that June is likely to be “a lackluster month” and may even set the market up for a July swoon.

Nevertheless, his S&P 500 12-month rolling target of 4,620 implies a 10 percent gain from current levels and new record highs.

However, in the meantime, COVID-19 remains a threat, the World Health Organization warned on Wednesday.

Noting that the Delta variant, previously known as the B.1.617.2, has now spread to at least 62 countries, the WHO said that “no one is out of the woods”, with even countries with high vaccination rates seeing a rise in cases over the last week or two.