February starts well with stocks higher again this morning

February starts well with stocks higher again this morning

Markets remain focused on coronavirus news and any indications of economic recovery. Market sentiment has been positive at the start of this week in contrast to last week and stocks are higher again this morning.

A potential problem could be the speculative activity of retail traders buying heavily shorted stocks and squeezing hedge funds. The latest target appears to be silver which reached a five-month high. Market analysts are wondering which stocks could be the next target. 

US President Joe Biden continues to push for his huge stimulus package despite Republican opposition. Investors are looking for a resolution and announcement on this as soon as possible.

Markit PMI for UK manufacturing was revised higher to 54.1 for January. This is still below December’s number and indicates that the sector slowed significantly at the start of the year.

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