Global Market Square
The U.S. and European stock markets closed higher Tuesday as investors in the U.S. continue to be vigilant of the jobs data and the COVID-19 Delta variant. In contrast, the European stock markets beat their U.S. counterparts as the economic recovery of the eurozone seems to be unfolding robustly, and with regard to corporate earnings, we project growth of more than 50%.
U.S. House Price Index rose to 1.76%, compared to 1.58% last month and 14.9% for the year, which is higher than the long-term average.
The home pricing frenzy is negatively impacting first-time homebuyers. At the same time, the rise may bring additional sellers to the markets; these will need to find a new place to live, which will ultimately have an effect on the supply and demand for housing.
Euro zone summary for June 29:
- The Stoxx 600 closed at 456.37, up 1.43 points, or 0.31%.
- The FTSE 100 closed at 7,087.55, up 14.58 points, or 0.21%.
- The Dax index closed at 15,690.59, up 136.41 points, or 0.88%.
Wall Street Summary for June 29:
- The Dow Jones Industrial Average closed at 34,292.29, up 9.02 points, or 0.03%.
- The Standard & Poor’s 500 closed at 4,291.80, up 1.19 points, or 0.03%.
- The Nasdaq Composite closed at 14,528.34, up 27.83 points, or 0.19%.
- The Birling Capital Puerto Rico Stock Index closed at 2,489.63, down 66.18 points, or 2.59%.
- The 10-year U.S. Treasury note closed at 1.49%.
- The 2-year U.S. Treasury note closed at 0.27%.