Monday, September 28, 2020

Market roundup for Aug. 10

By on August 10, 2020

SAN JUAN — The U.S. stock market closed Monday with mixed results, while the pandemic claimed one of the first victims of this earnings season.

Marriott International (MAR) reported a higher than expected quarterly loss due to the coronavirus-created havoc in global travel and evaporation of room bookings.

The hospitality giant reported a second-quarter net loss of $234 million, compared with profit of $232 million during the same period last year. It also reported impairment charges and bad debt expense related to COVID-19 and adjusted net loss by $61 million.

Marriott’s base management and franchise fees totaled $222 million for 2Q20, compared with $834 million in 2Q19. Its shares closed at $97.13, up $3.35, or 3.57%.

On to markets.

  • The Dow Jones Industrial Average closed at 27,791.44, up 357.96 points, or 1.3%.
  • The Standard & Poor’s 500 Index closed at 3,360.47, up 9.19 points, or 0.27%.
  • The NASDAQ Composite Index closed at 10,963.36, down 42.63 points, or 0.3%.
  • The Birling Capital Puerto Rico Stock Index closed at 1,536.16, up 36.88, or 2.6%.
  • The U.S. Treasury 10-year note closed up, at 0.59%.
  • The U.S. Treasury 2-year note closed flat, at 0.14%.

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