Markets rise, “pillars of rally remain in place”

Markets rose on Monday.

The S&P 500 rose 0.9 percent, the STOXX Europe 600 rose 0.7 percent and the Nikkei 225 rose 0.7 percent.

Markets rose after US President Donald Trump signed a US$900 billion COVID-19 relief bill into law on Sunday.

“The five pillars of the rally (Federal stimulus, FOMC stimulus, vaccine rollout, divided government and no double dip-recession) remain largely in place, and until that changes, the medium and longer-term outlook for stocks will be positive,” wrote Tom Essaye, founder of The Sevens Report.