Monday, October 18, 2021

Global Market Square

By on June 15, 2021

The U.S. and European stock markets closed Tuesday with asymmetrical results. In the U.S., all indices closed with losses as all eyes are on the Federal Reserve meeting.

European markets closed with solid gains up to near-record highs as the economies recover from the COVID-19 shock. As the markets continue in a holding pattern ahead of Wednesday’s Fed meeting, the focus totally is on  Fed Chairman Jerome Powell’s press conference and any bits of information the market can extract from the usually cryptic dialogue. 

Oracle (ORCL), which specializes in database software, reported third quarter revenue of $10.1 billion, up 3% year-over-year, and net income rose to $5 billion, up 95%. Oracle Chairman and Chief Technical Officer Larry Ellison stated, “Once again in Q3, Oracle’s Gen2 Cloud Infrastructure business added customers, and grew revenue at a rate above 100%.” Oracle stock closed at $80.40, down $2.22, or 2.69%.

Several critical economic indicators were reported, including:

  • U.S. Retail Sales Month-over-Month: fell to -1.72%, compared to 0.48% last month and lower than the long-term average of 0.39%.
  • U.S. Retail Sales Year-over-Year: fell to 24.38%, compared to 48.09% last month and higher than the long-term average of 4.48%.
  • U.S. Producer Price Index Year-over-Year: rose to 6.56%, compared to 6.17% last month and higher than the long-term average of 1.66%.
  • U.S. Business Sales rose to 1.621 Trillion, up from 1.612 Trillion last month and a change of 0.58% from the previous month.

Eurozone Summary for June 15:

  • Stoxx 600 closed at 459.00, up 0.68 points, or 0.15%.
  • FTSE 100 closed at 7,172.48, up 25.80 points, or 0.36%
  • Dax index closed at 15,729.52, up 55.88 points, or 0.36%.

Wall Street summary for June 15:

  • The Dow Jones Industrial Average closed at 34,299.33, down 94.42 points, or 0.27%.
  • The Standard & Poor’s 500 closed at 4,246.59, down 8.56 points, or 0.20%.
  • The Nasdaq Composite Index closed at 14,072.86, down 101.29 points, or 0.71%.
  • The Birling Capital Puerto Rico Stock Index closed at 2,579.03, down 35.40 points, or 1.35%.
  • The U.S. Treasury 10-year note closed at 1.51%.
  • The U.S. Treasury 2-year note closed at 0.16%.

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