Thursday, October 22, 2020

Market roundup for Oct. 15

By on October 15, 2020

The U.S. and European stock markets dropped as a second wave of COVID-19 seema to be ramping up. Some nations in the eurozone, such as France, and the United Kingdom announced increased restrictions to curb the wave. 

The U.S. Department of Labor reported that new unemployment claims rose to 898,000, up from 845,000 last week, or 6.27%.

Also, two of Wall Street’s stalwarts reported their earnings:

  • JP Morgan Chase (JPM): reported 3Q2020 revenues of $29.9 billion, flat compared to the same period last year, with Net Income rising to $9.4 billion, a rise of 9%, its stock closed at $101.67 up $1.45.
  • Morgan Stanley (MS): reported 3Q2020 revenues of $11.7 billion, an increase of 16%, and net income of $2.7 billion; its stock closed at $51.37, an increase of $0.72.

Wall Street Summary,

  • The Dow Jones Industrial Average closed at 28,494.20, down19.80 points, or 0.07%.
  • The Standard & Poor’s 500 Index closed at 3,483.34, down 5.32 points, or 0.15%.
  • The NASDAQ Composite Index closed at 11,713.87 down 54.86 points, or 0.47%
  • The Birling Capital Puerto Rico Stock Index closed at 1,636.32, down 13.54 points, or -0.82%
  • The U.S. Treasury 10-year note closed down at 0.74%.
  • The U.S. Treasury 2-year note closed down at 0.14%.