Saturday, 17 December 2016

Markets mixed but stock rally could run further

Markets were mixed on Friday.

The S&P 500 fell 0.2 percent but the STOXX Europe 600 rose 0.3 percent and the MSCI Asia Pacific Index rose 0.2 percent. As a result, the MSCI World Index finished flat.

Analysts do not see an end yet to the rally though.

“This reflation move is real,” said Paul Christopher, global market strategist at Wells Fargo Investment Institute. “We're not calling the top by the end of this year. It could easily run into January.”

Sam Stovall, chief investment strategist with research firm CFRA, thinks that the market is seeing an early Christmas rally. “There's enough hope and anxious uncertainty that will not be resolved until well into 2017, combined with the desire to avoid paying higher taxes,” said Stovall. “Those factors will keep the market elevated.”

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