Tuesday, September 22, 2020

Market roundup Sept. 16

By on September 16, 2020

SAN JUAN — The U.S. stock market ended Wednesday with mixed results, even as the Fed expanded its fiscal response to the COVID-19 pandemic signaling that interest rates would not increase until 2023. 

The Fed is taking a more relaxed stance toward inflation endorsed just last month. Most of the day’s losses were due to technology stocks that lost ground again Wednesday.

Key economic indicators:

  • U.S. Retail Sales rose 0.11% compared to 0.53% last month, much lower than expected.
  • U.S. Business Sales rose to $1.441 trillion, up from $1.396 trillion last month, a change of 3.21% from the previous month, but 1.18% less than the period last year.
  • U.S. Business Inventories rose to 0.1%, compared to minus-1.08% last month.
SectorChg YTD
Basic Materials7.99%
Consumer Cyclical18.67%
Consumer Defensive3.18%
Energy-45.65%
Financial Services-19.72%
Healthcare4.29%
Industrials-3.39%
Technology27.05%
Utilities-6.93%

On to the markets.

  • The Dow Jones Industrial Average closed at 28,032.38, up 36.78 points, or 0.13%.
  • The Standard & Poor’s 500 Index closed at 3,385.49, down 15.71 points, or 0.46%.
  • The NASDAQ Composite Index closed at 11,050.47, down 139.86 points, or 1.25%.
  • The Birling Capital Puerto Rico Stock Index closed at 1,506.42, down 21.69 points, or 1.42%.
  • The U.S. Treasury 10-year note closed higher, at 0.69%.
  • The U.S. Treasury 2-year note closed flat, at 0.14%.