Global Market Square
The global and U.S. stock markets began March with a vengeance, and government debt staged a rally to start the month on solid footing. Following last week’s calamitous volatility, which started with concern that inflation may arise with a V-shape economic recovery and most central banks’ potential actions to tap down monetary policies.
The positive global economic figures are propelling the markets to their best day since June. Manufacturing PMI reports from Europe, Japan and China show improved February activity, exceeding the consensus estimates.
President Biden’s $1.9 trillion bazooka stimulus, which was passed in the House and the massive vaccine rollout will determine the stock markets’ direction for the next quarter.The stimulus bill less chances to be passed in the Senate.
Wall Street Weekly summary for March 1, 2021:
- The Dow Jones Industrial Average closed at 31,535.51, up 603.14 points, or 1.95%.
- The Standard & Poor’s 500 closed at 3,901.82, up 90.67 points, or 2.38%.
- The Nasdaq Composite Index closed at 13,588.83, up 396.48 points, or 3.01%.
- The Birling Capital Puerto Rico Stock Index closed at 2,269.48, up 13.43 points, or 0.6%.
- The U.S. Treasury 10-year note closed at 1.45%
- The U.S. Treasury 2-year note closed at 0.13%.