Markets mixed, UK going back to lockdown

Markets were mixed on the first trading day of 2021.

The S&P 500 fell 1.5 percent but the STOXX Europe 600 rose 0.7 percent and the Shanghai Composite rose 0.9 percent.

The COVID-19 pandemic continued to weigh on investors' minds as the US reported over 18,400 deaths from the disease in the week ended 3 January and UK Prime Minister Boris Johnson ordered another national lockdown.

However, some analysts are undaunted.

“The stock market is positioned for further gains in 2021 based on the twin pillars of coordinated fiscal and monetary policy from the U.S. Treasury and the Federal Reserve Board and a successful COVID vaccine rollout,” said Marc Chaikin, CEO of Chaikin Analytics.