Wednesday, February 24, 2021

Global Market Square

By on January 21, 2021

The U.S. stock markets closed the trading session with mixed results—quite surprising since the markets had closed at record highs the day before.  

We see the combination of a renewed optimistic view in the U.S. that a new round of stimulus will sustain economic growth and lift the markets with the current fourth quarter stable earnings and positive financial data. 

Key economic indicators reported Thursday include: 

  • U.S. Housing Starts: rose 5.77%, compared to 3.14% last month.
  • U.S. Initial Claims for Unemployment Insurance: fell slightly to 900,000, down from 926,000 last week, an improvement of -2.81% from the previous week; however, there were 334.8% more claims than a year ago.

On Thursday, President Joe Biden released his National Covid-19 Plan, which emphasizes a ramp-up in testing and includes more meaningful use of the Defense Act to help with vaccine production. 

The plan is geared toward providing 100 million vaccines in 100 days to accelerate the rollout at local and state levels.

Wall Street summary for January 21, 2021,

  • The Dow Jones Industrial Average closed at 31,176.01, down 12.37 points, or 0.04%.
  • The Standard & Poor’s 500 closed at 3,853.07, up 1.22 points, or 0.03%.
  • The Nasdaq Composite Index closed at 13,530.91, up 73.67 points, or 0.55%.
  • The Birling Capital Puerto Rico Stock Index closed at 2,195.01, up 1.30 points, or 0.06%.
  • The U.S. Treasury 10-year note closed at 1.12%
  • The U.S. Treasury 2-year note closed at 0.13%

Global Market Square presented by Birling Capital Advisors.

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