Market roundup for July 29
SAN JUAN — The U.S. stock market rose Wednesday after the Federal Reserve Bank’s Open Market Committee left its benchmark interest rate at almost zero. However, the Fed forewarned that the U.S. economic recovery will depend entirely on the path the coronavirus pandemics takes.
The Fed warned that the fate of the world’s largest economy would “depend significantly on the course of the virus” as the central bank extended measures to deal with an international shortage of dollars. We believe that the Fed will change its monetary policy and will continue using its powers to support the recovery.
Coronavirus cases continues to rise. A comparison of the increases in the past five days on the U.S. mainland, Florida and Texas, as well as Puerto Rico.
- United States: 4.329 million Covid-19 cases, from 4.093 million on July 24, an increase of 5.77%.
- Florida: 441,977 cases; up from 402,312, or 9.11%.
- Texas: 394,265, up from 369,826, or an increase of 6.61%.
- Puerto Rico: 15,840, up from 13,962, for a 13.41% rise.
- The Dow Jones Industrial Average closed at 26,539.57, up 150.29 points, or 0.61%.
- The Standard & Poor’s 500 Index closed at 3,258.44, up 40 points, or 1.24%.
- The NASDAQ Composite Index closed at 10,542.94, up 140.85 points, or 1.35%.
- The Birling Capital Puerto Rico Stock Index closed at 1,530.78, down 3.27, or 0.21%.
- The U.S. Treasury 10-year note closed up at 0.58%.
- The U.S. Treasury 2-year note closed up at 0.12%.