Saturday, February 27, 2021

Global Market Square

By on January 19, 2021

The U.S. stock markets came back from the Martin Luther King Jr. Day holiday with a positive mindset to begin the week with gains.

Most investors are focused on President-elect Joe Biden’s proposed $1.9 trillion in economic relief, with the expectation that the bazooka-like plan will energize the economy. 

There were also some critical comments from incoming Treasury Secretary-designate Janet Yellen, who expressed strong support for Biden’s relief package, arguing that “with interest rates at historic lows, the smartest thing we can do is act big.”

The corporate earnings season continues with Goldman Sachs (G.S.) reporting 4Q2020 Revenues of $11.74 billion and a $4.51 billion net income, which is 135% over last year. Its stock closed at $294.55, down $6.46.

Wall Street summary for January 19, 2021,

  • The Dow Jones Industrial Average closed at 30,930.52, up 116.26 points, or 0.38%.
  • The Standard & Poor’s 500 closed at 3,798.91, up 30.66 points, or 0.81%.
  • The Nasdaq Composite Index closed at 13,197.18, up 198.68 points, or 1.53%.
  • The Birling Capital Puerto Rico Stock Index closed at 2,185.74, down 25.59 points, or 1.17%.
  • The U.S. Treasury 10-year note closed at 1.10%
  • The U.S. Treasury 2-year note closed at 0.14%

Global Market Square is presented by Birling Capital.

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