Wednesday, 14 April 2021

Markets shrug off negative vaccine and inflation news

Markets mostly rose on Tuesday.

The S&P 500 rose 0.3 percent to a record high, the STOXX Europe 600 rose 0.1 percent and the Nikkei 225 rose 0.7 percent.

Markets were largely able to shrug off a call by the US Food and Drug Administration to pause innoculation with the Johnson & Johnson Covid-19 vaccine after reported cases of blood clotting.

“We’re optimistic, very optimistic that we’re going to be reopened fully in the second half of this year,” said Mike Wilson, chief US equity strategist for Morgan Stanley.

Investors also shrugged off a report on Tuesday that showed that the US consumer price index rose 0.6 percent in March and 2.6 period from the same period a year ago, slightly higher than economists expected.

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