Strong earnings, monetary policies drive stocks higher
Global equity markets rallied to all-time highs for the seventh consecutive month as investors focused on strong corporate earnings and the still-accommodative fiscal and monetary policies of central banks, rather than Delta-variant headwinds. Coronavirus case counts and hospitalizations in various U.S. states have risen to new highs since the start of the pandemic. Nonetheless, markets remain optimistic for a return to normal. The U.S. Food and Drug Administration fully approved the Pfizer-BioNTech vaccine, which could lead to further increases in vaccinations as certain employers mandate vaccines and provide the needed push for those who have been hesitant.