Global Market Square
The U.S. stock market set new records Thursday as it shakes off the GameStop speculation saga.
As GameStop is behind us, most investors are now focusing on President Biden’s $1.9 trillion “bazooka” stimulus package’s signs of progress.
The Department of Labor reported day that the U.S. Initial Claims for Unemployment Insurance fell to 779,000, or 4.06% down from 812,000 last week, showing that jobs growth may be slowly improving.
Another signal that investors are focused on the Biden Plan that includes both Stimulus and massive vaccinations is that a big sell-off in 30-year Treasuries has propelled the U.S. yield curve to its sharpest level since October 2015.
Wall Street summary for February 4, 2021,
- The Dow Jones Industrial Average closed at 31,055.86, up 332.26 points, or 1.08%.
- The Standard & Poor’s 500 closed at 3,871.74, up 41.57 points, or 1.08%.
- The Nasdaq Composite Index closed at 13,771.74, up 167.20 points, or 1.23%.
- The Birling Capital Puerto Rico Stock Index closed at 2,074.63, down 22.08 points, or 1.08%.
- The U.S. Treasury 10-year note closed at 1.15%
- The U.S. Treasury 2-year note closed at 0.11%