Market roundup for July 6
SAN JUAN — U.S. and global stock markets rose sharply Monday. A wave of bullish investor sentiment in China surged across global markets, driving an increasingly optimistic view of the economic recovery from the coronavirus pandemic.
The Institute for Supply Management’s manufacturing purchasing managers’ (PMI) index rose past expectations, to 52.60, up from 43.10 last month, a 22.04% increase.
On the corporate side, we note that most companies had been engaged in a fast-paced path to secure liquidity and shore up additional cash reserves to face the pandemic. They are now focused on assessing the overall damage to their operations from COVID-19. Some companies have been able to stave off bankruptcy, at least for the time being.
- The Dow Jones Industrial Average closed at 26,287.03, up 459.67 points, or 1.8%.
- The Standard & Poor’s 500 Index closed at 3,179.72, up 49.71 points, or 1.6%.
- The NASDAQ Composite Index closed at 10,433.65, up 226.02 points, or 2.2%.
- Thee Birling Capital Puerto Rico Stock Index closed at 1,449.53, up 8.24 points, or 0.57%.
- The U.S. Treasury 10-year note closed at 0.69%.
- The U.S. Treasury 2-year note closed at 0.16%.