Thursday, 29 December 2016

Markets mixed but “animal spirits appear to be reviving”

Markets were mixed on Wednesday

The S&P 500 Index fell 0.8 percent but the STOXX Europe 600 rose 0.3 percent.

Earlier in Asia, the Nikkei 225 was flat, the Shanghai Composite Index fell 0.4 percent but the Hang Seng Index rose 0.8 percent.

“It’s a reminder that markets are up a lot, which leads to investors becoming more selective in their buying habits,” said Mark Luschini, chief investment strategist at Janney Montgomery Scott.

Still, Liz Ann Sonders, Charles Schwab’s chief investment strategist, told Fortune that “animal spirits appear to be reviving” and that she is now overweight US stocks relative to developed international stocks.

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