Market roundup for Oct. 2
SAN JUAN — U.S. and global stock markets had another volatile trading day to end the week.
The main driver was news that President Trump and the first lady had tested positive for Covid-19 only 32 days before the general election. Investors are closely monitoring the president’s condition, as with his high cholesterol, obesity and age, his situation could quickly worsen.
Finally, Congress and the Trump administration continue to labor over the stimulus package.
However, when we review the economic data, we note that there are continued economic recovery signs.
- U.S. Unemployment Rate fell to 7.9 percent, compared to 8.4 percent last month.
- U.S. Initial Claims for Unemployment Insurance fell to 837,000, or 4.12 percent, from last week.
- U.S. Personal Saving Rate fell to 14.1 percent, compared to 17.7 percent last month.
- U.S. Personal Consumption Expenditures fell to $13.1 trillion, down from $14.55 trillion, a change of -9.96 percent from last quarter.
- U.S. Personal Income fell 2.71 percent, compared to 0.46 percent last month.
On to markets.
- The Dow Jones Industrial Average closed at 27,682.81, down 134.09 points, or 0.48 percent.
- The Standard & Poor’s 500 Index closed at 3,348.44, down 32.36 points, or 0.96 percent.
- The NASDAQ Composite Index closed at 11,075.02, up 251.49 points, or 2.22 percent.
- The Birling Capital Puerto Rico Stock Index closed at 1,523.22, up 26.16, or 1.75 percent.
- The U.S.U.S. Treasury 10-year note closed higher, at 0.7 percent.
- The U.S. Treasury 2-year note closed lower, at 0.13 percent.