Global Market Square
The U.S. and European stock markets began the week with slight gains ahead of the beginning of corporate earnings season that starts with JP Morgan Chase and Goldman Sachs, two of the six largest banks in the Birling Capital U.S. Bank Index, which includes Bank of America, Citi, Morgan Stanley and Wells Fargo.
The Birling Capital U.S. Bank index closed at 2,124.95, up 77.09 points,for a year-to-date return of 31.82%. Average quarterly earnings per share are expected to rise 116 percent yearly.
Also, investors are waiting for economic data this week, including the Consumer Price Index in the U.S. and Europe.
Key indicators that will be reported this week:
- U.S. Consumer Price Index
- U.S. Producer Price Index
- U.S. Retail Sales
- U.S. Business Sales
- U.S. Initial Claims for Unemployment Insurance
- European Union Industrial Production Index
- European Union Consumer Price Index
- European Union Inflation Rate
Eurozone Summary for July 12:
- Stoxx 600 closed at 461.00, up 3.33 points, or 0.73%.
- FTSE 100 closed at 7,125.42, up 3.54 points, or 0.05%
- Dax index closed at 15,790.51, up 102.58 points, or 0.65%.
Wall Street Summary for July 12:
- The Dow Jones Industrial Average closed at 34,996.18, up 126.02 points, or 0.36%.
- The Standard & Poor’s 500 closed at 4,384.63, up 15.08 points, or 0.35%.
- The Nasdaq Composite Index closed at 14,733.24, up 31.32 points, or 0.21%.
- The Birling Capital Puerto Rico Stock Index closed at 2,462.67, up 70.55 points, or 2.95%.
- The U.S. Treasury 10-year note closed at 1.38%.
- The U.S. Treasury 2-year note closed at 0.23%.