Friday, 30 April 2021

Markets mixed, “trend remains positive”

Markets were mixed on Thursday.

The S&P 500 rose 0.7 percent to a record high but the STOXX Europe 600 fell 0.3 percent.

Keith Lerner, chief market strategist at Truist, said that the “primary market trend remains positive” but “we expect a choppier environment”.

Other analysts have expressed similar views.

“In an environment of strong consumer demand, we expect revenue growth to help offset the drag from input costs,” said UBS Global Wealth Management Chief Investment Officer Mark Haefele.

David Marchant, CIO of Canada Life Asset Management, said that “equities will probably stay up and may continue to drift higher, but I just think you need to exercise a degree of caution, be a little more selective about where you are putting your money”.

Update: Revised on 1 May to remove an outdated Nikkei 225 performance figure.

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