US corporate earnings mostly solid , so far

The latest round of corporate earnings is winding down, and nearly 90% of companies in the S&P 500 have reported their latest results, AP reports.

The reports have been mostly solid. Tyson Foods jumped 8.7% for one of the biggest gains in the S&P 500 Monday after handily beating Wall Street’s profit forecasts.

Investors are also closely watching the world’s reaction to the latest surge of the coronavirus. Some governments have reimposed limits on business and travel. China canceled flights as it tries to stop a rash of outbreaks. Australia’s two most populous states have told people to stay home except to go to work or for a handful of other reasons.

Analysts expect the U.S. and global economies to continue growing, but have cautioned that the resurgent virus could slow down the pace.

“That’s one part of the story and that could be holding back” the stock market, said David Kelly, chief global strategist at JPMorgan Funds. “We don’t really have a handle on how bad the delta variant might get.”