Market roundup for July 2
SAN JUAN — U.S. and global stock markets rallied, with the news of a more robust than expected U.S. jobs report, and closed higher Thursday.
The U.S. Labor Department reported that new unemployment applications fell to 1.42 million, or 3.71% less during the past week, and unemployment fell to 11.1%, a 16.5% drop. Also, U.S. Total Nonfarm Payrolls rose to 137.8 million, an increase of 4.8 million from 133 million last month and down from 150.7 million one year ago.
Also, Tesla Inc. announced Thursday that it withstood the coronavirus lockdown better than analysts had expected, producing 90,650 vehicles in the second quarter, or 16,520 more cars than the 74,130 expected. The results drove the Tesla (TSLA) stock up $97.99, or 8.73%, to close at $1,217.42. Analyzing it on investors’ return terms, had any investor purchased 100 shares of Tesla on July 2, 2019, at the closing price of $224.55, it would have realized a gain of $99,287, a 442% return.
- The Dow Jones Industrial Average closed at 25,827.36, up 92.36 points, or 0.36%.
- The Standard & Poor’s 500 closed at 3,130.01, up 14.15 points, or 0.45%.
- The Nasdaq closed at 10,207.63, up 53 points, or 0.52%
- The Birling Puerto Rico Stock Index closed at 1,441.29, down 32.08 points, or 2.18%
- The U.S Treasury 10-year note closed at 0.69%
- The U.S. Treasury 2-year note closed at 0.17%