Global Market Square
The U.S. stock market mostly rose Thursday, with major indexes closing near record highs, except the S&P 500, which fell slightly. In Europe, markets declined after economic activity weakened amid lockdown measures.
Investor sentiment is torn between the continued surge in COVID-19 cases and the approval and rollout of the vaccines.
A critical economic metric was reported: The U.S. Labor Department said initial unemployment claims fell to 712,000, or 9.53%, versus 778,000 last week; this was much lower than expected. However, the real reading will be Friday’s jobs report, which will show how increased restrictions have impacted the market.
The markets continue to monitor Washington’s developments and the possibility of a bipartisan $908 billion COVID-19 aid package. From our vantage point, we see intense negotiations taking place.
Wall Street summary for December 3, 2020:
- The Dow Jones Industrial Average closed at 29,969.52, up 85.73 points, or 0.29%
- The Standard & Poor’s 500 closed at 3,669.01, down 2.29 points, or 0.06%.
- The Nasdaq Composite Index closed at 12,377.18, down 27.62 points, or 0.23%.
- The Birling Puerto Rico Stock Index closed at 1,981.74, up 40.73, or 2.1%.
- The U.S. Treasury 10-year note closed at 0.92%
- The U.S. Treasury 2-year note closed at 0.16%