Saturday 21 November 2020

Markets mixed, await vaccines amid spiking COVID-19 cases

Markets were mixed on Friday.

The S&P 500 fell 0.7 percent but the STOXX Europe 600 rose 0.5 percent.

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

Aaron Clark, portfolio manager at GW&K Investment Management, said that the market is wrestling with spiking COVID-19 cases and the resulting shutdown measures.

However, Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management, said that “any market downside is going to be supported by the reality that you do have very effective vaccines that are going to be available in the not-so-distant future”.

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