Markets rise, US COVID-19 cases hit six-month high

Markets were mostly higher on Thursday.

The S&P 500 rose 0.6 percent, the STOXX Europe 600 rose 0.4 percent and the Nikkei 225 rose 0.5 percent.

In the US, travel stocks rebounded after struggling over the past week amid the spread of the Delta variant of COVID-19.

“It’s nice to have a day where we’re seeing a rebound in reopen and travel,” said Stephanie Link, chief investment strategist at Hightower Advisors.

Nevertheless, the trajectory of the pandemic in the US remains grim, with infections hitting a six-month high of over 100,000 on Wednesday.

Southern states are reporting the most COVID-19 cases and hospitalisations.

“23% of new COVID hospitalisations in the US are in Florida, and their hospitals are being overwhelmed again,” White House Press Secretary Jen Psaki said on Wednesday.