Markets rose on Monday.
The S&P 500 rose 0.2 percent, the STOXX Europe 600 jumped 1.1 percent and the Nikkei 225 rose 0.1 percent.
John Manley, chief equity strategist at Wells Fargo Funds Management, said that the investment environment is “reasonably good” and that while valuations are high, “they are kind of on the low end of high”.
Energy stocks led gains in the US as oil rose for the eighth consecutive session. West Texas Intermediate crude rose 2.2 percent and Brent rose 1.9 percent.
However, US tech stocks fell, with the Nasdaq Composite declining 0.5 percent.
Technical analyst Tom McClellan, though, thinks stocks are set to roar higher.
“We're still in an uptrend,” he told CNBC on Monday.
However, with the spread between the US 10-year Treasury and the 10-year German bund starting to narrow, he sees a likelihood of “some ugliness” starting in late 2018.
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