SAN JUAN — The U.S. stock and global markets closed the week with mixed results after one of the best weeks and months in recent memory. However, it was also a highly volatile month for investors, with significant 100-point swings.
Investors remained exuberant despite weakening economic data. They are betting that the reopening of the world’s economies, which began this month, will allow for a much faster recovery.
Another situation that has captured the market are U.S.-China tensions as Hong Kong is losing all autonomy following Chinese approval of national security legislation for the administrative region.
Additionally, the White House announced it was officially redirecting U.S. funding to the World Health Organization elsewhere, blaming it for mishandling the coronavirus pandemic. All told, the United States contributed $900 million in funding to the United Nations’ agency.
- The Dow Jones Industrial Average closed May at 25,383.11 points, losing 17.53, or 0.07% percent.
- The S&P 500 Index closed May with 3,044.31 points, an increase of 14.58, or 0.48% return.
- The Nasdaq closed May at 9,489.87, for a gain of 120.88 points, or 1.29%.
- The Birling Capital Puerto Rico Stock Index closed May at 1,482.44, rising 29.77 points, a 2.05% return.
- The U.S. Treasury’s 10-year note closed at 0.65%.
- The U.S. Treasury’s 2-year note dropped, closing at 0.16%.