Monday, October 18, 2021

Global Market Square

By on August 2, 2021

The U.S. and European stock markets closed the beginning of the trading week with uneven results.

In the United States, a lower than expected Manufacturing Purchasing Managers Index (PMI) raised investor concerns over the likelihood of slowing U.S. economic growth, which drove the market lower. The Purchasing Managers Index summarizes economic activity in the U.S. manufacturing sector.

In Europe, the stock markets ended largely up.

A key benchmark reported Monday:

  • U.S. ISM Manufacturing PMI: fell to 59.50, down from 60.60 last month, a decrease of 1.82% from the previous month.

The corporate earnings parade continued with two very international corporations:

  • Ferrari NV (RACE): Ferrari is synonymous with exclusive Italian design, engineers and manufactures some of the world’s most expensive exotic sports cars. Ferrari reported 2Q21 Net Revenues of $1.228 billion, nearly double that from the prior year-period. Net income of $244 million and delivered 2,685 vehicles during the quarter, twice the number of units from the previous year. The stock closed at $212.59, down $5.70.
  • HSBC Holdings PLC (HSBC): Established in 1865 in Hong Kong, the bank based in London is one of the largest in the world with assets of $3 trillion and 40 million customers worldwide in 64 countries. HSBC reported 1H21 revenues of $25.6 billion, a 4% reduction compared to the previous year, and net income of $8.4 billion. Its stock closed at $27.42, down $0.15.

Eurozone Summary for August 2:

  • Stoxx 600 closed at 464.48, up 2.74 points, or 0.59%.
  • FTSE 100 closed at 7,081.72, up 49.42 points, or 0.70%
  • Dax Index closed at 15,568.73, up 24.34 points, or 0.16%.

Wall Street summary for Aug. 2:

  • The Dow Jones Industrial Average closed at 35,058.82, down 97.31 points, or 0.28%.
  • The Standard & Poor’s 500 closed at 4,387.16, down 8.10 points, or 0.18%.
  • The Nasdaq Composite Index closed at 14,681.07, up 8.39 points, or 0.06%.
  • The Birling Capital Puerto Rico Stock Index closed at 2,514.63, down 16.12 points, or 0.64%.
  • The U.S. Treasury 10-year note closed at 1.20%.
  • The U.S. Treasury 2-year note closed at 0.17%.

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