Markets mixed amid increased hope for economic recovery

Markets were mixed on Tuesday.

The S&P 500 dipped 0.1 percent while the STOXX Europe 600 rose 0.9 percent.

Earlier in Asia, the Nikkei 225 rose 0.3 percent but the Shanghai Composite fell 0.4 percent.

“The strong results from the Pfizer vaccine were better than most expected and means we could be opening back up sooner than expected,” said Ryan Detrick, chief market strategist at LPL Financial.

Terry Sandven, chief equity strategist at US Bank Wealth Management, said that “near term, with signs of economic improvement on the horizon, we’re going to see cyclical companies outperform”.