Upbeat earnings reports and strong Chinese manufacturing numbers sent European and U.S. shares higher Thursday. However, some observers voiced caution. "Short term, markets are very overbought. At some stage we are going to see a little bit of cooling off, because markets are still very strong and I can't see the gains extend from where we are right now," said Joe Neighbour, trading analyst at Central Markets.

Full Story:
MarketWatch, CNNMoney

Related Summaries