Global Market Square
Investors Brush off Capitol’s Siege; Initial Unemployment Claims fall; and Wall Street Closes With Record Highs
The U.S. stock markets rose significantly for a second day in a row as investors look beyond Wednesday’s assault on the U.S. Capitol. They have focused on the recent economic data that showed increased economic recovery.
- The U.S. I.S.M. Non-Manufacturing PMI rose to 57.20, up from 55.90 last month and up from 54.90 one year ago. This increase is a rise of 2.33% from the previous month and 4.19% from one year ago.
- U.S. Initial Claims for Unemployment Insurance fell slightly to 787,000, down from 790,000 last week, a change of -0.38% from the previous week.
We note that most investors are focused on the stimulus plan and President-Elect Joe Biden’s plans to increase spending and enhance support for the U.S. economy.
The Democratic Party consolidates power with victories in Georgia’s Senate runoff election, allowing the party control over both the House and Senate.
Wall Street summary for Jan. 7:
- The Dow Jones Industrial Average closed 31,041.13, up 211.73 points, or 0.69%.
- The Standard & Poor’s 500 closed at 3,803.79, up 55.65 points, or 1.48%.
- The Nasdaq Composite Index closed at 13,067.48, up 326.69 points, or 2.56%.
- The Birling Capital Puerto Rico Stock Index closed at 2,151.49, up 146.62 points, or 7.31%.
- The U.S. Treasury 10-year note closed higher, at 1.08%
- The U.S. Treasury 2-year note closed at 0.14%