Markets mixed as investors turn attention to earnings

Markets were mixed on Monday.

The S&P 500 rose 0.8 percent but the STOXX Europe 600 fell 0.4 percent. In Asia, the Nikkei 225 rose 0.3 percent but the Shanghai Composite plunged 1.5 percent.

US stocks were supported by good earnings expectations.

“Investors already know that earning will be good and at this point looking at guidance from companies,” said Quincy Krosby, chief market strategist, at Prudential Financial.

Michael Wilson, chief US equity strategist at Morgan Stanley, wrote: “We think first-quarter earnings season should deliver on high expectations and help the market move higher toward a cyclical top in equities we expect to occur later this year.”

Also, a report on Monday showed that US retail sales rose 0.6 percent in March after declining in the previous three months.