Markets rise, environment for risk assets “getting better and better”

Markets rose on Friday.

The S&P 500 rose 0.3 percent to a record high, the STOXX Europe 600 rose 0.4 percent and the Shanghai Composite rose 1.1 percent.

With several COVID-19 vaccines expected to be rolled out over the next few months, Bill Northey, senior investment director at US Bank Wealth Management, said that “that is going to allow pent-up economic activity to return”.

Mike Zigmont, head of trading and research at Harvest Volatility Management, said that the “environment for risk assets has been getting better and better”.

Adding to the positive mood, China reported on Friday that industrial profits surged 28.2 percent year-on-year in October.