Markets rise as economic reopening plans “remain on track”

Markets rose on Wednesday.

The S&P 500 jumped 1.4 percent, the STOXX Europe 600 surged 2.5 percent and the Nikkei 225 rose 1.3 percent.

Analysts at National Australia Bank wrote in a note that investors remain “squarely focused on the prospect of economies reopening supported by COVID-19 stats that broadly speaking continue to suggest reopening plans remain on track”.

However, Nikko Asset Management’s John Vail suggested that “enthusiasm should be dialed down quite a bit for the market”, adding that the upcoming second quarter “earnings warning season” is likely to feature “more negative ones than positive ones”.