Markets rose on Thursday.
The S&P 500 rose 0.7 percent, the STOXX Europe 600 surged 2.4 percent and the Nikkei 225 jumped 1.5 percent.
“We continue to see a lessening of tensions over the possibility of a trade war,” said Peter Tuz, president of the Chase Investment Counsel.
However, Chris Beauchamp, chief market analyst at IG, warned: “Sharp rallies over the past two months have been the excuse for more selling, and there is still a lot of work to do before we can be sure that the bears have been sent back into hibernation.”
Indeed, Paul Gambles, the managing director at advisory firm MBMG Group, told CNBC on Thursday that “we're in epic bubble proportions, probably the biggest bubble of all time” and that “there are conditions out there that are prime for that bubble to actually be pricked”.
DoubleLine Capital founder Jeffrey Gundlach told CNBC that the stock market “can't take higher bond yields” and that after an easy investment time in 2017, it is “payback time”.
Other analysts remain optimistic.
Oppenheimer Asset Management's John Stoltzfus told CNBC: “We think stocks will work their way to 3,000 by the end of the year.”
Grace Peters, a global investment strategist at JP Morgan Private Bank, told CNBC: “Our central case is that stocks move higher, because we think corporate profits really are the key driver of equity markets, and we see corporate profits looking pretty strong.”
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