Friday, 14 May 2021

S&P 500 rebounds, “bull market has further to run”

Markets were mixed on Thursday.

The S&P 500 jumped 1.2 percent but the STOXX Europe 600 dipped 0.1 percent and the Nikkei 225 plunged 2.5 percent.

“This bull market ultimately has further to run,” said Keith Lerner, chief market strategist at Truist.

“We do not think that yesterday’s inflation print changes the longer-term case for inflation after the reopening trade, and that is what ultimately matters for markets,” AB Bernstein strategist Inigo Fraser-Jenkins said in a note.

Indeed, investors shrugged off another high inflation report on Thursday, with producer prices in April jumping more than 6 percent from a year ago.

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