Markets were mixed on Wednesday.
The S&P 500 rose 0.8 percent but the STOXX Europe 600 dipped 0.1 percent and the Shanghai Composite fell 0.2 percent.
Economic data on Wednesday were positive.
In the US, ADP’s monthly private-sector jobs report showed an increase of 749,000 in September while another report showed pending home sales jumped 8.8 percent in August.
In China, the official manufacturing PMI rose to 51.5 in September from 51.0 in August while the Caixin/Markit PMI came in at 53.0, down slightly from 53.1 in August.
Leuthold Group's chief investment strategist Jim Paulsen told CNBC that “incredible economic momentum” will drive stocks higher in the fourth quarter.
Still, the spectre of COVID-19 remains as the UK reported more than 7,000 cases for the second day in a row and several European countries looked at tightening restrictions in an effort to contain the spread of the virus over autumn and winter.
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