Markets were mixed on Monday.
The S&P 500 fell 0.2 percent but the STOXX Europe 600 rose 0.6 percent.
Canaccord Genuity analyst Tony Dwyer said that views on the market are divided as “fear over the Delta variant of the Covid-19 virus and the other side of ‘peak everything’ has investors on edge, while the monetary and fiscal support for the economy coupled with historically strong earnings keeps liquidity high”.
Indeed, the US is averaging more than 63,000 new COVID-19 cases cases a day over the last 7 days, near its highest level since April this year.
However, 88 percent of S&P 500 companies that have reported results have topped EPS estimates, and the S&P 500 is on track to post earnings growth of 85.1 percent for the second quarter.
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