Thursday, May 19, 2022

Global Market Square

By on June 21, 2021

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%.

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