Global Market Square
The U.S. and European stock markets ended the session Tuesday recording all-time highs in a stark departure from last week’s sharp losses.
As the concerns of the covid delta variant seem to be leveling off, most investors are now focusing their attention on the Fed’s two-day Jackson Hole monetary policy conference.
One of the critical items for discussion is tapering the $120 billion per month asset purchase program, as there is an apparent disagreement among the Fed board members; in that sense, the meeting takes an overly crucial tone. While Fed Chairman Jerome Powell may not address policy change during the event, the tea leaf readers will always interpret every word spoken.
Birling Capital Puerto Rico Stock Index News:
Today, one of the Birling Capital Puerto Rico Stock Index constituents, Triple S Management (GTS), announced that it was merging with GuideWell Mutual Holding Corp.
GuideWell is an insurance holding company based in Florida and part of the Blue Cross Blue Shield Association. GuideWell will acquire all of Triple-S Management common stock for $36.00 per share in cash, representing a premium of approximately 49%. The estimated value of the transaction is $900 million. Upon completion of the Transaction, Triple-S Management will become a subsidiary of GuideWell.
The result is that Puerto Rico loses another public company. Upon completion of the merger, Triple S will cease to be a public company; on a broader level, Triple S joins MCS and MMM Healthcare as all three have now been sold to other companies. The Triple S (GTS) stock closed at $35.20, up $11.01, a 45.51% increase.
A key benchmark reported Tuesday:
- U.S. New Single-Family Houses Sold: rose to 708,000, up from 701,000 last month, increasing 1.00%.
Eurozone Summary for August 24:
- Stoxx 600 closed at 471.68, down 0.20 points, or 0.042%.
- FTSE 100 closed at 7,125.78, up 16.76 points, or 0.24%
- Dax Index closed at 15,905.85, up 53.06 points, or 0.32%.
Wall Street summary for August 24:
- The Dow Jones Industrial Average closed at 35,366.26, up 30.55 points, or 0.09%.
- The Standard & Poor’s 500 closed at 4,486.23 up points, 6.70, or 0.15%.
- The Nasdaq Composite Index closed at 15,019.80, up 77.15 points, or 0.52%.
- The Birling Capital Puerto Rico Stock Index closed at 2,593.92, up 43.63 points, or 1.71%.
- The U.S. Treasury 10-year note closed at 1.29%.
- The U.S. Treasury 2-year note closed at 0.24%.