Monday, October 18, 2021

Global Market Square

By on May 18, 2021

The U.S. stock market ended its session with losses for the second straight day this week.

The market continued as it has during the last six months, performing a dramatic stock rotation as investors have transitioned their portfolios by investing in those companies hardest hit by the pandemic and away from those that greatly benefited from the pandemic. That shift, along with the inflation fears, is driving markets towards a paradigm shift.

You only need to look at the year-to-date (YTD) growth per sector to see what is happening.

Sector                           Chg YTD

  • Basic Materials            22.50%
  • Consumer Cyclical    6.00%
  • Consumer Defensive 4.98%
  • Energy                          44.41%
  • Financial Services       28.73%
  • Healthcare                     8.62%
  • Industrials                   17.91%
  • Technology.                3.81%
  • Utilities                          4.26%

Today the agenda for economic news included that U.S. Housing Starts fell to 1.569 Million, down from 1.733 million last month, a decrease of 9.46% from the previous month. 

Two of Wall Street’s biggest retailers reported their 1Q21 earnings:

  1. Wal-Mart (WMT) reported 1Q21 earnings of $138.3 billion, up 2.7%, and net income of $6.9 billion, up 32.34%; the stock closed at $141.89, up $3.00, or 2.16%.
  2. The Home Depot (HD) reported 1Q21 earnings of $37.5 billion, up 32.7%, and net income of $4.1 billion, up 85.6%; the stock closed at $316.85, down $3.16 ,or 0.99%.

Eurozone Summary for May 18:

  • Stoxx 600 closed at 443.55, up 1.26, or 0.28%.
  • FTSE 100 closed at 7,034.24, up 1.39, or 0.02%
  • Dax index closed at 15,386.58, down 10.04, or 0.07%.

Wall Street Summary for May 18,

  • The Dow Jones Industrial Average closed at 34,060.66, down 267.13 points, or 0.78%. 
  • The Standard & Poor’s 500 closed at 4,127.83, down 35.46 points, or 0.85%.
  • The Nasdaq Composite Index closed at 13,303.64, down 75.41 points, or 0.56%.
  • The Birling Capital Puerto Rico Stock Index closed at 2,674.85, up 15.26 points, or 0.57%.
  • The U.S. Treasury 10-year note closed at 1.64%.
  • The U.S. Treasury 2-year note closed at 0.16%.

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