Global Market Square
The U.S. and European stock markets began the week with asymmetrical results. In the U.S., there were mixed results, while in Europe, there were losses across the board.
The Chinese government, which calls itself the State Council, turned greed into fear as it implemented restrictions to Chinese company listings, a very resourceful and gainful capital-raising conduit in the New York Stock Exchange.
Investors’ focus on this short week includes the COVID-19 Delta variant and the U.S. vaccine rollout, which slowed down as it did not reach President Biden’s 70% goal.
Lastly, Tuesday’s results reflect the continuation of the stock rotation that has continued to rock markets, particularly following the jobs report, which showed strong growth in Beach stocks—booking, entertainment, airlines, cruises and hotels.
Key events to watch for this week:
- Federal Open Market Committee minutes will be released Wednesday.
- The G20 finance ministers and central bankers meet in Venice on Friday.
- China’s Producer Price Index and Consumer Price Index reports are published Friday.
Eurozone Summary for July 6:
- Stoxx 600 closed at 455.43, down 2.93, points or 0.64%.
- FTSE 100 closed at 7,100.88, down 64.03 points, or 0.89%
- Dax index closed at 15,511.38, down 150.59 points, or 0.96%.
Wall Street summary for July 6:
- The Dow Jones Industrial Average closed at 34,577.37, down 208.98 points, or 0.60%.
- The Standard & Poor’s 500 closed at 4,343.54, down 8.80 points, or 0.20%.
- The Nasdaq Composite Index closed at 14,663.64, up 24.32 points, or 0.17%.
- The Birling Capital Puerto Rico Stock Index closed at 2,488.38, down 11.11 points, or 0.44%.
- The U.S. Treasury 10-year note closed at 1.37%.
- The U.S. Treasury 2-year note closed at 0.22%.