SAN JUAN – The US stock market closed higher Wednesday, within striking distance of record highs.
Investors are reacting to improving economic data, including the U.S. Consumer Price Index’s rise to 259.1, compared to 257.8 last month, a 0.51% increase, which was higher than expected.
Several vital indicators show that several parts of the economy are stable and growing again after the COVID-19 shutdown. However, not all is positive: Most small and midsize businesses report a complete evaporation of profits in the second quarter.
The Russell 2000 stock index, the small-cap benchmark, has reported an overall loss of $ 1.1 billion versus net profits of $ 18 billion in 2Q19.
Meanwhile, after announcing plans for a 5-for-1 stock split to occur Aug. 31, Tesla (TSLA) stock rose 13.28%, to close at $ 1,556.88, a $ 182.49 increase.
On to markets,
- The Dow Jones Industrial Average closed at 27,976.84, up 269.93 points, or 1.05%.
- The Standard & Poor's 500 Index closed at 3,380.35, up 46.66 points, or 1.4%.
- The NASDAQ Composite Index closed at 11,012.42, up 229.42 points, or 2.13%.
- The Birling Capital Puerto Rico Stock Index closed at 1,534.42, down 8.34, or 0.54%.
- The US Treasury 10-year note closed higher, at 0.69%.
- The U.S. Treasury 2-year note closed flat, at 0.16%.