Global Market Square
The U.S. and global stock markets ended the week with slight gains. In addition to their current record-breaking levels, Wall Street achieved another record this week, as it received $71.1 billion in net inflows from investors into both stock and bond funds from their cash reserves.
In Europe, the United Kingdom’s Office for National Statistics reported that gross domestic product (GDP) fell by 9.9% in 2020 as the pandemic lockdowns impacted all sectors of the economy. This decrease was the biggest since 1709 or 311 years ago.
Despite the continued COVID-19 challenges, the stock markets continue to project a robust economic recovery for the U.S. and the world’s economies.
Investors are also carefully examining the corporate earnings results. So far, north of 80% of the companies have reported 4Q2020 results and have surpassed analysts’ expectations. Meanwhile, for 2021, corporate earnings’ growth is pegged at 20%.
Wall Street summary for February 12, 2021,
- The Dow Jones Industrial Average closed at 31,458.40, up 27.70 points, or 0.09%.
- The S&P 500 closed at 3,934.83, up 18.45 points, or 0.47%.
- The Nasdaq Composite Index closed at 14,095.47, up 69.70 points, or 0.5%.
- The Birling Capital Puerto Rico Stock Index closed at 2,142.25, down 11.50 points, or 0.53%.
- The U.S. Treasury 10-year note closed at 1.20%
- The U.S. Treasury 2-year note closed at 0.11%