Wednesday, April 14, 2021

Global Market Square

By on December 23, 2020

Trump Warns Congress: without $2,000 for Americans he will veto $900 billion Stimulus Bill, Wall Street Closed with Mixed Results

The U.S. stock markets closed with mixed results as investors bet on the effect the new stimulus plan will have on the U.S. economy. However, President Donald Trump has told Congress on Tuesday, that if they do not add $2,000 in payouts to all Americans in the $900 billion stimulus plan, he may veto the bill. 

We can expect anything from President Trump as he threatened and ultimately vetoed the $741 billion defense spending bill, and he may be in for his first veto override in his lame-duck status.

Another critical indicator we follow are the shares of the Birling Capital U.S. Bank Index Index, and we note the following very notable increases from three of its member stocks;

J.P. Morgan Chase (J.P.M.) closed at $125.04, increasing $3.37.

Goldman Sachs (G.S.) closed at $255.55, increasing $5.46.

Popular, Inc. (BPOP) closed at $56.52, increasing $2.26.

The rising fortunes of the banking sector is an excellent sign for the overall economy.

Wall Street summary for December 23, 2020,

  • The Dow Jones Industrial Average closed 30,129.83, up 114.32 points, or 0.38%
  • The Standard & Poor’s 500 closed at 3,690.01, up 2.75 points or 0.07%.
  • The Nasdaq Composite Index closed at 12,771.11, down 36.80 points, or 0.29%.
  • The Birling Capital Puerto Rico Stock Index closed at 1,984.50, down 31.99 points, or 1.59%.
  • The U.S. Treasury 10-year note closed at 0.96%
  • The U.S. Treasury 2-year note closed at 0.13%

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