Markets were mixed on Thursday.
The S&P 500 rose 0.8 percent but the STOXX Europe 600 was flat and the Nikkei 225 fell 0.2 percent.
US stocks rose after a report suggesting that the US government was debating whether to ease tariffs on Chinese imports in a bid to calm markets and ease tensions with China.
However, weighing on bank stocks was Morgan Stanley's announcement that fourth quarter earnings and revenue had fallen short of analyst expectations.
Still, Tom Essaye, president of the Sevens Report, said in a note that commentary from banks executives has been “better than feared” and may be “helping markets rally”.
Bill Stone, Avalon Advisors' chief investment officer, told CNBC that “stocks are cheap” relative to bonds and sees the S&P 500 surging to at least 3,000 by the end of the year.
In contrast, Andrew Garthwaite and other Credit Suisse analysts said in a report that there is “around 5% upside for the key global markets, but advise selling developed markets into the rally rather than continuing to build positions”.
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