Markets rose on Monday.
The S&P 500 rose 1.2 percent, the STOXX Europe 600 jumped 1.6 percent and the Nikkei 225 gained 1.4 percent.
“Even though we’re worried that there could still be one more wave down if we get another big influx of uncertainty, we think the stock market is now setting up nicely for a nice net advance over the next two months or so,” said Matt Maley, chief market strategist at Miller Tabak.
Markets were boosted by positive manufacturing PMI data on Monday.
The Caixin/Markit China manufacturing PMI rose to 53.6 in October from 53.0 in September.
The IHS Markit eurozone manufacturing PMI rose to 54.8 in October from 53.7 in September.
In the US, the ISM manufacturing PMI rose to 59.3 in October from 55.4 in September.
However, with the COVID-19 pandemic still raging around much of the world, Gus Faucher, chief economist at PNC Financial, warned that “the path forward will be more difficult as the economy continues to cope with the pandemic”.
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