Global Market Square
The global and U.S. stock markets hit record highs to open the trading week, as the administration of President Joe Biden kept pressure on Congress over his $1.9 trillion Stimulus “bazooka” plan.
The Dow Jones Industrial Average, S&P 500 and Nasdaq all rose more than 0.7%, and most international stocks climbed higher, as European and Asian markets benefited from the increasing optimism.
Investors’ focus is torn between those awaiting corporate earnings and those who prefer an outsize stimulus. More than 50% of all S&P 500 companies have reported fourth quarter earnings, with 84% of them beating analyst estimates.
Another notable supporter of the $1.9 trillion stimulus package is Treasury Secretary Janet Yellen, who stated that the job market might recover by next year with the stimulus and the current monetary policy.
Wall Street summary for February 8, 2021,
- The Dow Jones Industrial Average closed at 31,385.76, up 237.52 points, or 0.76%.
- The Standard & Poor’s 500 closed at 3,915.59, up 28.76 points, or 0.74%.
- The Nasdaq Composite Index closed at 13,987.64, up 131.35 points, or 0.95%.
- The Birling Capital Puerto Rico Stock Index closed at 2,110.41, down 11.39 points, or 0.59%.
- The U.S. Treasury 10-year note closed at 1.19%
- The U.S. Treasury 2-year note closed at 0.11%