Thursday, May 19, 2022

Global Market Square

By on June 11, 2021

The U.S. and European stock markets ended the week with solid gains, and most global stocks are a stone’s throw from their record-highs. Most investors seem to be balancing their focus between economic recovery and inflation fears.

Although the Consumer Sentiment Index rose 4.22%, we must raise our sign of danger ahead as the Federal Reserve Bank markets operating committee meets next week; with inflation rising, the Fed may be tempted to act. 

As for the much-awaited Biden Infrastructure Bill, there have been constant negotiations over the past few weeks regarding a comprehensive infrastructure package. Unfortunately, President Biden and Sen. Shelley Moore Capito’s (R-WV) discussions came to an abrupt end. The focus now is on a  bipartisan group of 10 senators who may draft a much less ambitious Infrastructure Bill that only deals with highway improvements.

On economic news, the U.S. Consumer Sentiment rose more than the expected index of 85, to 86.40, up from 82.90 last month, a 4.22% increase; this is great news.

Eurozone Summary for June 11:

  • Stoxx 600 closed at 457.64, up 3.68 points, or 0.68%.
  • FTSE 100 closed at 7,134.06, up 45.88 points, or 0.65%
  • Dax index closed at 15,693.27, up 122.05 points, or 0.78%.

Wall Street summary for June 11:

  • The Dow Jones Industrial Average closed at 34,479.60, up 13.36 points, or 0.04%.
  • The Standard & Poor’s 500 closed at 4,247.44, up 8.26 points, or 0.19%.
  • The Nasdaq Composite Index closed at 14,069.42, up 49.09 points, or 0.35%.
  • The Birling Capital Puerto Rico Stock Index closed at 2,612.33, down 28.28 points, or 1.09%.
  • The U.S. Treasury 10-year note closed at 1.47%.
  • The U.S. Treasury 2-year note closed at 0.16%.

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