Markets mixed amid concerning news on trade and growth

Markets were mixed on Thursday.

The S&P 500 rose 0.1 percent and the STOXX Europe 600 rose 0.2 percent but the Nikkei 225 dipped 0.1 percent.

Fears over the US-China trade war were reignited after US Commerce Secretary Wilbur Ross told CNBC that a trade deal with China is “miles and miles” away.

Adding to investors' concerns were comments by European Central Bank President Mario Draghi that the balance of risks surrounding the eurozone economic outlook have shifted to the downside. The comments were made in a news conference following the ECB's decision at its monetary policy meeting to leave interest rates unchanged.

However, Ryan Nauman, market strategist at Informa Financial Intelligence, said that “good news on the earnings front” are “helping to counteract a lot of concerning news out this morning on global growth and trade”.

Still, Raymond James chief investment strategist Jeffrey Saut thinks that stocks are “a little overextended in the short-term” and could see a pullback.

Longer-term though, Saut is bullish and said: “The pullback is for buying.”