Global Market Square
The U.S. and European stock markets regained momentum and finished the session higher following substantial losses Monday due to the rise oof the highly transmissible Delta variant of the coronavirus.
The C.D.C. said the Delta variant is becoming the most prevalent strain of COVID-19 in the United States, at 83% of all cases. This situation has authorities rethinking the full reopening the U.S. economy.
On the other end of the spectrum is the projection that the U.S. Gross Domestic Product is said to grow at the annualized rate of 9% in the second quarter; this forecast is swaying investor sentiment about the corporate earnings growth being more significant than initially expected.
The C.D.C. has said that some 186.3 million Americans, or 56.1% of the total population, have at least one dose of the vaccine, and 161.5 million, or 48.6%, are fully vaccinated.
The White House is expressing concern about vaccine hesitancy due to misinformation on social media and other outlets, as well as that the vaccination has become a political issue.
Vaccine hesitancy is an issue that dates back to the 1800s when the smallpox vaccine started being used. Then the notion of injecting someone with a cowpox blister to protect them from smallpox faced heavy criticism. The criticism is based on lack of knowledge, and religious and political objections, among other concerns.
Nations have the tools to fight opposition to vaccines, including passing laws that require vaccination to protect public health—France is a good example.
A key indicator reported Tuesday:
- U.S. Housing Starts rose to 1.572 Million, up from 1.517 Million last month, a 3.63% change from the previous month.
Eurozone Summary for July 20:
- Stoxx 600 closed at 446.55, up 2.36 points, or 0.53%.
- FTSE 100 closed at 6,881.13, up 36.74 points, or 0.54%
- Dax Index closed at 15,216.27, up 83.07 points, or 0.55%.
Wall Street summary for July 20:
- The Dow Jones Industrial Average closed at 34,511.99, up 549.05 points, or 1.62%.
- The Standard & Poor’s 500 closed at 4,323.06, up 64.57 points, or 1.52%.
- The Nasdaq Composite Index closed at 14,498.88, up 223.89 points, or 1.57%.
- The Birling Capital Puerto Rico Stock Index closed at 2,326.32, down 66.72 points, or 2.79%.
- The U.S. Treasury 10-year note closed at 1.23%.
- The U.S. Treasury 2-year note closed at 0.20%.