SAN JUAN — U.S. and global stocks finished the trading day with mixed results as investors seem to be realizing that the recent rally has overshot the reopening recovery, the stimulus measures, and some of the emerging positive economic data.
Financial stocks were the best performers, increasing 2.5%.
The U.S. Bureau of Labor Statistics reported May 8 that unemployment had increased to 14.7%, with nearly 3.2 million new unemployment applications, bringing the total to to 33.4 million, or 20.2% of the U.S. workforce.
“The advance seasonally adjusted insured unemployment rate was 14.8 percent for the week ending May 23, an increase of 0.5 percentage point from the previous week’s revised rate. The previous week’s rate was revised down by 0.2 from 14.5 to 14.3 percent. The advance number for seasonally adjusted insured unemployment during the week ending May 23 was 21,487,000, an increase of 649,000 from the previous week’s revised level,” the U.S. Department of Labor said Thursday.
At 22.7 percent, Puerto Rico had among the highest insured unemployment rates in the week ending May 16, along with Nevada (24.9), Maine (22.9), Michigan (22.9), Hawaii (20.6), New York (19.2), Rhode Island (18.6), Washington (17.7), Louisiana (17.4), and New Hampshire (16.8).
- The Dow Jones Industrial Average closed at 26,281.82, up 11.93 points, or 0.05%.
- The Standard & Poor’s 500 Index closed at 3,112.35, down 10.52 points, or 0.34%
- The NASDAQ Composite Index closed at 9,615.81, down 67.10 points, or 0.69%.
- The Birling Capital Puerto Rico Stock Index closed at 1,566.10, up 63.43 points, or 4.22%.
- The U.S. Treasury 10-Year note closed at 0.82%
- The U.S. Treasury 2-Year note closed at 0.19%.