Global Market Square: Roundup Nov. 20
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%
- Financial Services:-10.92%
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%