Global Market Square
Global and U.S. stock markets closed mixed Tuesday. The outlier was the Nasdaq Composite, which broke the 14,000 level.
While there was no significant economic news, we do report that the NFIB Research Foundation’s Small Business Optimism Index dropped to 95 in January, down 0.9 from December and three points from the 47-year average of 98.
Most business owners continue to expect challenges and restrictions due to COVID-19, as the net percent of owners wishing better business conditions has fallen 55 points over the past four months.
These current economic conditions are the main reason why the $1.9 trillion stimulus package is desperately needed. We note that markets reflect an optimistic tone that the “bakooza” stimulus will trigger an economic recovery.
Wall Street summary for February 9, 2021,
- The Dow Jones Industrial Average closed at 31,375.83, down 9.93 points, or 0.03%.
- The Standard & Poor’s 500 closed at 3,911.23, down 4.36 points, or 0.11%.
- The Nasdaq Composite Index closed at 14,007.70, up 20.06 points, or 0.14%.
- The Birling Capital Puerto Rico Stock Index closed at 2,144.17, up 33.76 points, or 1.6%.
- The U.S. Treasury 10-year note closed at 1.18%
- The U.S. Treasury 2-year note closed at 0.11%