Markets were mixed on Friday.
The S&P 500 fell 0.1 percent, ending a run of four consecutive record closes, but the Dow Jones Industrial Average rose 0.1 percent to an all-time high.
The STOXX Europe 600 fell 0.2 percent but the MSCI Emerging Markets Index rose 0.2 percent.
The US 10-year Treasury yield rose six basis points to 1.60 percent.
West Texas Intermediate crude rose 0.6 percent but gold fell 0.4 percent.
Despite the weak performance on Friday, stocks have made a strong run recently. Bank of America Merrill Lynch reported in a note on Friday titled “Bear Capitulation” that investors last week poured the most cash into global equity funds since October last year and the second highest amount ever into emerging market bond funds.
Meanwhile, the Wall Street Journal reported that “market professionals are generally cautiously optimistic that the U.S. bull market ... is primed for an extended run”.
“So far,” said Douglas Coté, chief market strategist for Voya Investment Management, “2016 is reminiscent of past stealth bull markets, climbing a wall of worry despite obstacles in its way.”
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