Tuesday, December 1, 2020

Market roundup for Oct. 1

By on October 1, 2020

SAN JUAN — The U.S. stock market began the month higher, as investors consider the possibility of a new stimulus package.

However, not all was good news as U.S. personal income decreased by 2.7 percent in August after the additional unemployment benefits expired. The development’s consequence is reduced consumption that may severely impact the economic recovery. The Bureau of Economic Analysis reported that income dropped by $543.5 billion, or 2.7 percent, a much larger figure than estimated. 

To validate the above-mentioned number, we review the U.S. Retail Sector and its different segments:

  • U.S. Retail and Food Services Sales: Dropped to 0.56 percent, compared to 0.87 percent last month and 0.43 percent last year. 
  • U.S. Grocery Store Sales: Fell slightly, to $62.9 billion, down from $63.92 billion last month, or 1.58 percent, and up from $57.7 billion one year ago.
  • U.S. Food and Beverage Store Sales: $71.05 billion, down from $71.9 billion last month, or 1.18 percent, and up from $64.6 billion one year ago.
  • U.S. Department Store Sales: $9.4 billion, down from $9.63 billion last month, or 2.34 percent, and down from the $11.32 billion one year ago.
  • U.S. Electronics and Appliance Store Sales: Rose to $7.9 billion, up from $7.83 billion last month, or 0.84 percent, and down from 8.095 billion one year ago.
  • U.S. Auto and Other Motor Vehicle Sales: Fell slightly to $101.06 billion, down from $101.07 billion last month, or 0.01 percent, and up from $97.05 billion one year ago.

On to markets.

  • The Dow Jones Industrial Average closed at 27,816.90, up 35.20 points, or 0.13 percent.
  • The Standard & Poor’s 500 Index closed at 3,380.80, up 17.80 points, or 0.53 percent.
  • The NASDAQ Composite Index closed at 11,326.51, up 159 points, or 1.42 percent.
  • The Birling Capital Puerto Rico Stock Index closed at 1,497.26 down 0.67 points, or 0.04 percent.
  • The U.S. Treasury 10-year note closed higher, at 0.68 percent.
  • The U.S. Treasury 2-year note closed up at 0.14 percent.

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