Global Market Square
The U.S. and European stock markets absorbed the U.S. Federal Reserve’s outlook and returned with solid gains.
The Dow Jones and the S&P 500 closed higher than 1.0%, eclipsing the worst day in four months.
The volatility in the market only rose after the Fed meeting cryptically mentioned rates may increase by 2023; a lot can happen in two years; let us take a breather. Bear in mind that market volatility only rose in response to the Fed, and volatility must be seen as the rule, not a departure from the norm.
Eurozone Summary for June 21:
- Stoxx 600 closed at 455.27, up 3.22 points, or 0.71%.
- FTSE 100 closed at 7,062.29, up 44.82 points, or 0.64%
- Dax index closed at 15,603.24 up 155.20 points, or 1.00%.
Wall Street summary for June 21:
- The Dow Jones Industrial Average closed at 33,876.97, up 586.89 points, or 1.76%.
- The Standard & Poor’s 500 closed at 4,221.86, up 58.34 points, or 1.40%.
- The Nasdaq Composite Index closed at 14,141.48, up 110.10 points, or 0.79%.
- The Birling Capital Puerto Rico Stock Index closed at 2,416.678, down 97.56 points, or 3.88%.
- The U.S. Treasury 10-year note closed at 1.50%.
- The U.S. Treasury 2-year note closed at 0.27%.