SAN JUAN — U.S. and global stocks rose Wednesday as investor sentiment continues to focus on the economy rebounding faster than expected.
We are also monitoring Morgan Stanley Capital International’s (MSCI) Europe, Australasia and Far East (EAFE) Index, which tracks large- and mid-cap companies. It closed at 1,773.59 points and has risen 31% since March. The best market performers were industrial stocks, which rose 4%, and financial stocks, which ended 3.85% higher.
Three benchmark indicators announced Wednesday showed signs of improvement:
- The Institute of Supply Management’s (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI) rose 8.61%, to 45.4%, up from 41.8% last month.
- U.S. Manufacturing Shipments reported at 406.76 billion, down 13.53% from 470.38 billion last month and down from 501.77 billion last year.
- U.S. Manufacturing New Orders (month-over-month) dropped 13.02%, compared with minus-11.01% last month.
- The Dow Jones Industrial Average closed at 26,269.89, up 527.24 points, or 2.0%.
- The Standard & Poor’s 500 Index closed at 3,122.87, up 42.05 points, or 1.4%.
- The NASDAQ Composite Index closed at 9,682.91, up 74.54 points, or 0.8%.
- The Birling Capital Puerto Rico Stock Index closed at 1,502.66 points, up 4.01, or 0.27%.
- The U.S. Treasury 10-Year Note closed at 0.77%.
- The U.S. Treasury 2-Year Note closed at 0.19%.