Markets were mostly higher on Monday.
The S&P 500 rose 0.1 percent to another record high and the STOXX Europe 600 rose 0.1 percent. However, the Shanghai Composite fell 0.8 percent.
“The market is in a clear up momentum, and a lack of bad news and upward momentum pushes things higher,” said Randy Frederick, vice president of trading and derivatives at Charles Schwab.
Vishnu Varathan of Mizuho Bank also sees reasons to “maintain optimism through some combination of data buoyancy” but suggested that “equally, there are signs that optimism is stretched”.
Indeed, cautionary data on Monday came from Europe, where the eurozone economic sentiment indicator fell for the tenth consecutive month from 105.6 in March to 104.0 in April, its lowest level in more than two years.
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