Markets mixed after hitting “strong highs”

Markets were mixed on Monday.

The S&P 500 fell 0.5 percent, the STOXX Europe 600 was little changed and the Shanghai Composite jumped 1.5 percent.

“The markets are at strong highs at the moment, and given that it is also a quiet day data-wise, it is not a surprise to see the markets drifting lower,” said Connor Campbell, an analyst at Spreadex.

“We remain bullish on equity markets overall, and see continued strength in cyclical sectors that will benefit from a broad-based economic recovery that is underway,” said James Ragan, director of wealth management research at DA Davidson.