Monday, November 30, 2020

Global Market Square: Roundup Nov. 20

By on November 20, 2020

The U.S. stock markets closed down for the day, with the Dow Jones and the S&P falling 0.73% and 0.77% respectively for the week. Investors continue to balance a diverse set of variables that include the vaccine news, the COVID-19 case surge, the stimulus discussions, and now a rift between the U.S. Treasury and the Federal Reserve Bank over the direction of several COVID-19 programs.

However, in Europe, the Stoxx 600 and UK FTSE 100 continue their quest for the strongest November on record, with both up 14%. 

Lets review the sectors and their year-to-date returns,

  • Basic Materials: 13.68%
  • Consumer Cyclical: 23.19%
  • Consumer Defensive:6.26%
  • Energy:-40.04%
  • Financial Services:-10.92%
  • Healthcare:7.06%
  • Industrials:7.34%
  • Technology:32.39%
  • Utilities:-1.69%

On Friday morning, hopeful medical news lifted investor sentiment as Eli Lilly received “emergency use authorization” from the from the F.D.A. for their drug Baricitinib, which reduces recovery time from COVID-19.

Wall Street Summary for November 20, 2020:

  • The Dow Jones Industrial Average closed at 29,263.87, down 219.36 points, or 0.75%  
  • The Standard & Poor’s 500 closed at 3,557.60, down 24.27 points, or 0.68%.
  • The Nasdaq Composite Index closed at 11,854.97, down 49.74 points, or 0.42%.
  • The Birling Puerto Rico Stock Index closed at 1,908.27, down 19.07 points, or 0.99%.
  • The U.S. Treasury 10-year note closed down at 0.83%
  • The U.S. Treasury 2-year note closed down at 0.16%