Thursday, 22 April 2021

Markets rise, “economy well on its way to recovery”

Markets were mostly higher on Wednesday.

The S&P 500 rose 0.9 percent and the STOXX Europe 600 rose 0.7 percent. However, the Nikkei 2252 plunged 2.0 percent.

Analysts expressed a mix of optimism and caution.

Scott Wren, Wells Fargo’s senior global market strategist, said: “It appears the economy is now well on its way to recovery. Still, earnings guidance early in the current reporting season appears to lean more conservative than our economic projections suggest.”

“While we see further spikes in volatility ahead, we expect the market rally to continue and the rotation trade to resume,” said Mark Haefele, CIO at UBS.

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