What’s Up? (July 18-24)
Delta Variant Drives Uncertainty
A new spike in coronavirus cases, driven by the highly infectious Delta variant, rattled investors and companies last week. On Monday, fear over what a rise in cases, mostly among the unvaccinated, would mean for the global economic recovery drove the worst decline for the S&P 500 in months. But on Tuesday, stocks bounced back. The recent outbreaks are also prompting executives to rethink their plans for reopening offices. Apple, for example, said it would delay its plans to return to the office by at least a month, to Oct. 1 at the earliest. But not all companies have come to the same conclusion. Morgan Stanley’s chief legal officer urged the bank’s outside law firms to call their lawyers back to the office.
NBC Wins the Olympics
The summer games, delayed for a year, kicked off in Tokyo on Friday with a subdued ceremony inside a nearly empty stadium. Most residents of Japan…