Global Market Square
The U.S. stock market ended the session with mixed results as three of the leading indices we follow lost ground Monday. The outlier is the Nasdaq Composite, which continued its record-breaking pace. The smart money is in a holding pattern as this is a big week with public companies’ earnings, mixed expectations about Congress passing President Biden’s stimulus plan amid the coronavirus case surge and the vaccines’ rollout.
As you know, the Biden administration has promised 100 million vaccines in 100 days; the goal of vaccinating one million Americans per day numerically falls short of the numbers needed to achieve so-called “herd immunity,” or between 58% to 94% of the total population vaccinated, which translates to 192 million to 311 million U.S. citizens getting vaccinated. Assuming the Biden administration does reach the 100 million vaccines, that would still be as low as 32% or as high as 52%, well below the numbers needed to achieve the population’s immunity quickly.
The technology sector, which has been favored all along with the pandemic, continues to rise. We note some of the leading tech stocks:
- Tesla (TSLA) closed at $881.79, up $35.15, or 4.15%
- Apple (APPL) closed at $143.41, up $4.34, or 3.12%
- Microsoft (MSFT) closed at $229.68, up $3.77, or 1.65%
However, one stock in particular unrelated to technology that has risen for pandemic reasons is Clorox (CLX), which closed at $211.96, up $9.63, or 4.75%.
Wall Street summary for January 25, 2021,
- The Dow Jones Industrial Average closed at 30,960.00, down 36.98 points, or 0.12%.
- The Standard & Poor’s 500 closed at 3,855.36, up 13.89 points, or 0.36%.
- The Nasdaq Composite Index closed at 13,635.99, up 92.93 points, or 0.69%.
- The Birling Capital Puerto Rico Stock Index closed at 2,162.06, down 23.68 points, or 1.08%.
- The U.S. Treasury 10-year note closed at 1.05%
- The U.S. Treasury 2-year note closed at 0.13%
Global Market Square is presented by Birling Capital Advisors.