Wednesday, 26 May 2021

Markets mixed, “in a holding pattern”

Markets were mixed on Tuesday.

Early in the day, the Shanghai Composite surged 2.4 percent.

However, the STOXX Europe 600 ended flat and the S&P 500 dipped 0.2 percent.

Tom Essaye, founder of Sevens Report, said in a note that the market is “in a holding pattern” until there is clarity on Fed tapering.

However, Jim Paulsen, chief investment strategist at the Leuthold Group, thinks that inflation fears have eased and growth stocks are regaining leadership.

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