Tuesday, 14 November 2017

Markets mixed, analysts shrug off “profit-taking”

Markets were mixed on Monday.

The S&P 500 rose 0.1 percent but the STOXX Europe 600 fell 0.7 percent and the Nikkei 225 plunged 1.3 percent.

Kathleen Brooks, research director at City Index, said that volatility is “maybe starting to build again”.

However, most analysts remain optimistic on markets.

Tareck Horchani, global head of sales trading at Saxo Capital Markets, said that recent price action is “just profit-taking”.

Katie Stockton, chief technical strategist at BTIG, wrote: “A pullback in the 2%-3% range might be enough to relieve the market of ‘overly bullish’ sentiment without generating a lot of breakdowns or affecting positive intermediate-term momentum.”

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