Global Market Square
The U.S. and European stock markets began the week with a pause, following last week’s record-breaking rally. Most investors now focus on this week’s economic calendar, including the Consumer Price Index report and the corporate earnings season start.
The S&P 500 fell slightly, or 0.81 points, and the Dow Jones and Nasdaq Composite also closed lower. In the eurozone, the Stoxx 600 equity benchmark closed down 0.5%, and the United Kingdom FTSE 100 fell 0.4%.
As we mentioned last week, the Cboe’s Vix index of U.S. equity volatility, or Wall Street’s Fear Gauge, is at a year low with trading volume lower than usual. A lot is riding on the U.S. quarterly corporate earnings, which are expected to show the most substantial profit growth in almost three years. The money center banks will begin the earnings parade with Goldman Sachs, Well Fargo and JPMorgan reporting during the week.
Wall Street summary for April 12, 2021:
- The Dow Jones Industrial Average closed at 33,745.40, down 55.20 points, or 0.16%.
- The Standard & Poor’s 500 closed at 4,127.99, down 0.81 points, or 0.02%.
- The Nasdaq Composite Index closed at 13,8500.00, down 50.19 points, or 0.36%.
- The Birling Capital Puerto Rico Stock Index closed at 2,468.21, up 1.19 points, or 0.05%.
- The U.S. Treasury 10-year note closed at 1.69%
- The U.S. Treasury 2-year note closed at 0.18%.