Market roundup Aug. 11
SAN JUAN — The U.S. stock market closed down Tuesday. Investors reacted late in the trading day on news from U.S. Senate Majority Leader Mitch McConnell, who said that since Friday, no further discussion on the Coronavirus Phase 4 Stimulus Package, erasing any hope for a for quick deal.
On a positive note, the U.S. Producer Price Index, month-over-month rose to 0.6%, compared with -0.17% last month, this is the first increase over the previous 180 days.
Boeing Co. (B.A.) reported second quarter revenue of $11.8 billion versus $15.7 billion in 2Q19, or $2.55 billion less. It also reported a net loss of $2.96 billion versus a net loss of $3.38 billion in 2Q19. Boeing had been suffering from the impact of the 737 MAX airliners’ grounding when COVID-19 further impacted its business. The company reported that it delivered 20 aircraft during the quarter, and has a backlog of more than 4,500 aircraft valued at $326 billion.
Boeing stock closed at $180.29, up $0.88, or 0.49%.
On to markets,
- The Dow Jones Industrial Average closed at 27,686.91, down 104.53 points, or 0.38%.
- The Standard & Poor’s 500 Index closed at 3,333.69, down 26.78 points, or 0.8%.
- The NASDAQ Composite Index closed at 10,782.82, down 42.63 points, or 0.3%.
- The Birling Capital Puerto Rico Stock Index closed at 1,542.75, up 6.6 points, or 0.43%.
- The U.S. Treasury 10-year note closed up, at 0.64%.
- The U.S. Treasury 2-year note closed flat, at 0.16%.