Global Market Square
U.S. and global stock markets closed with mixed results Wednesday after oscillating between gains and losses during the trading session. European markets took a hit as the COVID-19 surge is forcing new lockdowns that will hit the nascent economic recovery.
The new bipartisan stimulus effort negotiation appears to be gaining some traction but not enough for investors to react positively.
The November A.D.P. payroll report saw a 307,000 rise in private-sector jobs, which translates to less than 24.5%, or 100,000, from the previous month. The job slowdown is consistent with the surging cases that have forced restrictions and closures all over the U.S., impacting the economic recovery.
As we observe the surge in cases, the impact on the economy and job losses, the focus will be on Congress to provide a new fiscal stimulus round.
Wall Street summary for December 2, 2020:
- The Dow Jones Industrial Average closed at 29,883.79, up 59.87 points, or 0.2%
- The Standard & Poor’s 500 closed at 3,669.01, up 6.56 points, or 0.11%.
- The Nasdaq Composite Index closed at 12,349.37, down 5.74 points, or 0.05%.
- The Birling Puerto Rico Stock Index closed at 1,941.01, up 41.04 points, or 2.16%.
- The U.S. Treasury 10-year note closed at 0.95%
- The U.S. Treasury 2-year note closed at 0.16%