Markets were mostly little-changed on Thursday.
The S&P 500 eked out a small gain to close at another record high while the STOXX Europe 600 finished flat.
Earlier in Asia, the Shanghai Composite rose 1.1 percent and the Nikkei 225 rose 0.8 percent.
Both the European Central Bank and the Bank of Japan left interest rates unchanged on Thursday.
Keith Parker, head of equity strategy at UBS, said in a note that COVID-19 vaccination is a key driver for stocks. “Removing bottlenecks for administering doses would present an upside case near-term,” he said.
However, Matt Maley, chief market strategist at Miller Tabak, noted: “The breadth in the market place was quite poor during the rally.”
Meanwhile, Jeremy Grantham, co-founder and chief investment strategist at Grantham, Mayo, & van Otterloo, told CNBC that investors are “becoming euphoric”.
Grantham said that there has “never been a great bull market that ended in this kind of bubble that did not decline by at least 50%”.
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