Global Market Square
The U.S. and European stock markets began the month with gains, extending a rally that began several days ago in the U.S. The EU is now showing gains. The unemployment data are key as they show signs of strengthening on both sides of the Atlantic.
The initial claims for unemployment insurance in the U.S. fell 12.29%, the most significant drop in months. In the eurozone, unemployment fell 382,000 during May, renewing the optimism that the economy in the region is steadily growing.
Several indicators reported:
- U.S. Initial Claims for Unemployment Insurance fell 364,000, down from 415,000 last week, a -12.29% decrease.
- Eurozone Unemployment Rate fell to 8.00%, compared to 8.10% last month.
- European Union Unemployment Rate rose to 6.30%, compared to 6.20% last month.
Eurozone Summary for July 1:
- Stoxx 600 closed at 455.64, up 2.80 points, or 0.62%.
- FTSE 100 closed at 7,125.16, up 87.69 points, or 1.25%
- Dax index closed at 15,603.81 up 72.77 points, or 0.47%.
Wall Street summary for July 1:
- The Dow Jones Industrial Average closed at 34,633.53, up 131.02 points, or 0.38%.
- The Standard & Poor’s 500 closed at 4,319.94, up 22.44 points, or 0.52%.
- The Nasdaq Composite Index closed at 14,522.38, up 18.42 points, or 0.13%.
- The Birling Capital Puerto Rico Stock Index closed at 2,459.74, down 0.23 points, or 0.01%.
- The U.S. Treasury 10-year note closed at 1.48%.
- The U.S. Treasury 2-year note closed at 0.25%.