Delta Variant Rises, But Investor Confidence Restored By Earnings - Your Money July 23rd 2021

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Good evening I’m John Bataller with PI Financial, but you can call me Garfield if you want, because this week – I hate Mondays.

Markets took one of their biggest downturns of the year this past Monday, falling just over 2% across the board. Why? Investors were spooked after the United States reported a sharp rise in COVID cases over the previous week, driven by the Delta variant in states with lower vaccination rates.

Investor confidence was restored over the rest of the week though as companies like Johnson & Johnson, Coca-Cola, Snap, and Twitter reported strong earnings.

These results have left Investors hungry for more - their voracious appetite has already driven the NASDAQ and the S&P to record highs today, and with mega-caps like Amazon, Apple, Alphabet, Tesla, and Microsoft set to report next week, the lasagna could be on the table soon.

For PI Financial, I’m John Bataller. Have a great evening.

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Steve Bokor

Steve Bokor

Portfolio Manager