Markets were mixed on Tuesday.
The S&P 500 dipped 0.1 percent and the Nikkei 225 fell 1.3 percent but the STOXX Europe 600 rose 0.7 percent.
Chris Hussey, a managing director at Goldman Sachs, said that “today is a time for markets to ‘consolidate’”.
However, the rally is expected to resume soon.
“Vaccinations are rolling out at a record clip, and historic stimulus efforts from Congress have all paved the way for continued positive market momentum,” said Chris Larkin, managing director of trading and investing product at E-Trade Financial.
Indeed, the International Monetary Fund is now expecting a stronger economic recovery in 2021, with the world economy now expected to grow by 6 percent in 2021, up from 5.5 percent forecast in January.
“Even with high uncertainty about the path of the pandemic, a way out of this health and economic crisis is increasingly visible,” IMF chief economist Gita Gopinath said in the latest World Economic Outlook report.
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