Wednesday, February 24, 2021

Global Market Square

By on January 20, 2021

The U.S. stock market rose Wednesday, reaching record highs after President Joe Biden was sworn-in. 

As investors were busy glued to their TVs watching the democratic transfer of power, the focus continues to be on the Biden administration and the expectation of a $1.9 trillion relief package.

Just about two-thirds of the companies on the S&P 500 were in positive territory during the session. The Nasdaq Composite rose almost 2% to a new record. The index received a massive lift from Netflix (NFLX) after surpassing 200 million subscribers in its recent earnings release. The company’s stock closed at 585.81, up $84.01, or 16.75%.

In our view, the stock rotation is beginning as investors will return to look for growth, and not just any growth, but sustained growth. 

Wall Street summary for January 20, 2021,

  • The Dow Jones Industrial Average closed at 31,188.38, up 257.86 points, or 0.83%.
  • The Standard & Poor’s 500 closed at 3,851.85, up 52.94 points, or 1.39%.
  • The Nasdaq Composite Index closed at 13,457.25, up 260.07 points, or 1.97%.
  • The Birling Capital Puerto Rico Stock Index closed at 2,193.71, up 7.96 points, or 0.36%.
  • The U.S. Treasury 10-year note closed at 1.10%
  • The U.S. Treasury 2-year note closed at 0.13%

Global Market Square is presented by Birling Capital

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