Markets were mixed on Thursday.
The S&P 500 rose 0.9 percent and the Nikkei 225 rose 0.4 percent but the STOXX Europe 600 fell 0.1 percent.
The CBOE VIX fell for a sixth straight session and is trading at levels last seen since before the Dow and S&P fell into correction territory.
Indeed, Mark DeCambre at MarketWatch said that the stock market has regained its swagger.
“The bears need to hibernate for a while because it looks like most of the geopolitical news has been priced in as well,” he quoted Karyn Cavanaugh, senior market strategist at Voya Financial, as saying.
However, Leuthold Group's Jim Paulsen told CNBC that “inflation has changed its stripes and is headed higher”.
“You're going to see more companies experiencing erosion of margins, which could force Wall Street to lower estimates,” he added.
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