Markets rise, see “robust recovery later in 2021”

Markets rose on Wednesday.

The S&P 500 jumped 1.4 percent to a record high, the STOXX Europe 600 rose 0.7 percent and the Shanghai Composite rose 0.4 percent.

Many analysts are optimistic about the US economy as President Joe Biden signed a string of executive orders on Wednesday to combat the COVID-19 pandemic.

“We’re entering what may be the toughest and deadliest period of the virus and must set aside politics and finally face this pandemic as one nation,” said Biden in his inauguration speech.

“I expect markets to continue to move in expectations of a robust recovery later in 2021 when vaccines are broadly distributed,” said Kristina Hooper, chief global market strategist at Invesco.

Chris Larkin, managing director of trading and investing product at E-Trade Financial, said that “traders and corporate America alike are starting to see the light at the end of the tunnel”.