Stocks mixed but US market “not dislodged easily”

Markets were mixed on Monday.

The S&P 500 fell 0.2 percent but the STOXX Europe 600 rose 0.2 percent while the Shanghai Composite rose 0.8 percent on resumption of trading after being closed for a holiday last week.

Robert Pavlik, chief market strategist for Boston Private Wealth Management, noted that “there’s a bit of weakness in the overall market”.

However, Mohamed El-Erian, chief economic advisor at Allianz, told CNBC on Monday that it would take a big surprise to derail the US stock market rally.

“You need a major shock or a major series of shocks to dislodge this market. This market is not dislodged easily,” he said.