Asian markets rallied Thursday as worries about the Delta variant were overshadowed by more strong earnings reports that indicated companies were faring well as the global economy emerges from last year's pandemic-induced collapse. He added that while Delta concerns remained, "the consensus is that it does not pose an immediate risk to the recovery. US traders cheered after forecast-beating earnings from Verizon and Coca-Cola, while United Airlines predicted profits down the line despite Covid curtailing travel. "Earnings estimates are quite remarkable, probably some of the best on record," David Mazza, at Direxion, told Bloomberg Television. However, analysts warned that the earnings reports had also shown that inflation remained an issue, with some saying price pressures were higher and longer lasting than foreseen.

Source: News 24 July 22, 2021 05:48 UTC