Global markets mixed but US looks "solid"

Markets were mixed on Friday.

The S&P 500 rose 0.5 percent to hit another record high but the STOXX Europe 600 fell 0.1 percent and the Nikkei 225 tumbled 1.1 percent.

“This recent rally has been so dependent on expected support from central banks, so there’s definitely an element of nervousness to it,” said James Athey, investment manager at Aberdeen Asset Management.

However, David Stubbs, global market strategist at JP Morgan Asset Management, said that while confidence in the UK has taken a hit after its Brexit referendum, “the situation in the U.S. remains one of solid, steady data”.

In addition, Oppenheimer's head of technical analysis Ari Wald told CNBC that many stocks are participating in the market rally, indicating a “resumption of strength like it did in 1995, 2003, 2009 and 2012”.

“All-time highs are bullish,” Wald said. He sees the S&P going to 2,250 by the end of 2016.