1. U.S. Markets Continue to Move Up; Earnings in Focus
Stocks moved back up for the second day as corporate earnings took focus away from concerns about the economic impact of Covid-19. Bonds fell.
Markets had fallen on Monday and Tuesday with a sell-off from institutional investors. The S & P 500 is on its way back to fresh highs while small caps in the U.S. market rallied with even more power.
Stoxx Europe is up by 1.65%
Dow Jones is up by 0.74%
NASDAQ is up by 0.58%
2. Israel Forms An Security Team To Look Into NSO Spyware Allegations
Israel said on Wednesday the country has formed a team to look into the allegations that the spyware sold by NSO Group has been abused worldwide. The team led by Israel’s National Security Council will have to report directly to Prime Minister Naftali Bennett. The team will majorly check the exports of NSO Group’s Pegasus software.
3. WHO Says, Delta Variant To Be Dominant Soon
World Health Organisation(WHO) said on Wednesday the Covid Delta variant will become the dominant strain in the coming months. The presence of the Delta variant has already been identified in 124 territories and it’s highly contagious compared to other variants.
4. Coca Cola Rises Up Over Upgraded Sales Forecast
Coca-Cola raised the annual sales forecast for the year 2021 and expects to reach organic revenue growth of 12% to 14% and adjusted EPS growth of 13%-15%. The new outlook has been announced after the annual sales forecast after second-quarter volume numbers surpassed those of April-June 2020. The stock is up 2% and trading with good volumes.
5. Anthem Warns About Upcoming Rise In Covid-19 Cost
U.S health insurance company Anthem on Wednesday warned about comparatively higher COVID-19 costs in the next six months due to new Coronavirus variants and a slower vaccination rate in the country. Health insurers all around the world are highly concerned about the slower vaccination drives and rise in new variants as it will have a direct impact on the companies.
6. Crude Oil Gains as U.S. Fuel Supplies Fall
Crude Oil jumped higher as equity markets stabilised for the week. The U.S government also published a report showing falling fuel stockpiles, during the high-demand summer season.
West Texas Intermediate Crude moved up 4.5% today. This may cause stock specific rallies in the market tomorrow from the oil sector.
