Markets were mixed on Tuesday.
The S&P 500 rose 0.4 percent to another record high while the Nikkei 225 jumped 1.4 percent.
However, the STOXX Europe 600 fell 0.3 percent and the Shanghai Composite fell 0.4 percent.
The Conference Board reported that its index of US consumer confidence fell to 84.8 this month from 91.7 in July.
Kathy Bostjancic, chief US financial economist at Oxford Economics, wrote that increasing caution among households “could slow consumer spending relative to the rather strong rebound over the past few months”.
For the eura area, Goldman Sachs analysts wrote that “the scale of the output decline raises the risk of long-lasting ‘scars’ to the economy’s productive capacity”.
Meanwhile, Invesco’s Arnab Das warned that there is “no reason really to bank” on a coronavirus vaccine as there “hasn’t been — ever — a human coronavirus vaccine”.
Invesco’s chief global market strategist Kristina Hooper told CNBC that there is “some speculative fervor in markets” and recommended that investors stay “well diversified”.
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