Market roundup for Aug. 6
SAN JUAN — The U.S. stock market continued to rise Thursday as investors optimistically viewed Washington negotiations for the Coronavirus Phase 4 Stimulus Package.
Congress and the White House appear to be closer to reaching a compromise to extend unemployment benefits that expired last month to more than 16.1 million Americans and to provide further support to the U.S. economy.
The U.S. Labor Department reported nearly 1.2 million new unemployment applications, a 17.35% decrease. Continuing claims for unemployment insurance fell to 16.1 million, down from 16.9 million last week, or 4.98% fewer.
Regarding corporate earnings, Nintendo (NTDOP) reported net sales of $3.39 billion, an increase of 108%, and net income of $1.4 billion, a 428% increase arising from the stay-home recommendations amid the pandemic. Company shares closed at $492, up $22.02, or 4.69%.
Triple-S Management Corp. (GTS) reported its second-quarter earnings, which reached $875.5 million, and net income of $43.6 million, up from $30.9 million, a 41.1% increase. Triple-S shares have increased 11% this year, but dropped close to 6% in the past 12 months. They closed at $18.92 Thursday, down $1.65, or 8.06%.
On to the markets:
- The Dow Jones Industrial Average closed at 27,201.52, up 373.05 points, or 1.39%.
- The Standard & Poor’s 500 Index closed at 3,327.77, up 21.26 points, or 0.64%.
- The NASDAQ Composite Index closed at 10,998.30, up 57.23 points, or 0.52%.
- The Birling Capital Puerto Rico Stock Index closed at 1,522.66, up 13.03 points, or 0.86%.
- The U.S. Treasury 10-year note closed down, at 0.55%.
- The U.S. Treasury 2-year note closed flat, at 0.11%.