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Asian, U.S. Shares Up, COVID-19 Concerns Start to Ease
Tue, July 20, 2021 - by Gina Lee
Asia Pacific stocks were mostly up on Wednesday morning, with U.S. counterparts recording their biggest advance since March 2021. Brightening investor sentiment, as concerns about rising numbers of global COVID-19 cases involving the Delta variant were somewhat eased, gave global shares a boost.
Rising COVID-19 case numbers, and the resultant restrictive measures implemented by some countries, sent global shares on a downward trend earlier in the week over concerns about the economic impact. However, loose U.S. monetary policy, still-high levels of economic expansion and robust corporate earnings brightened investor sentiment and led retail investors to buy dips in equities.
“We had a dip, we had a shock, there is fear of the Delta variant and there is the other side, which is some day we get beyond COVID-19 and when we do, we have a worldwide recovery,” Cumberland Advisors Inc. chief investment officer David Kotok told Bloomberg.
“We are seeing that tension going on in the markets for the last few days,” he added.
Other investors sounded a more cautious note.
Read the full story at Yahoo News: https://www.yahoo.com/now/asian-u-shares-covid-19-225234506.html
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Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.
