SAN JUAN – The US stock market closed mixed Tuesday, and the bright spot was the fact the S&P 500 Index surpassed its all-time high after rising more than 50% since March when the U.S. economy went into lockdown mode due to the novel coronavirus. We can assure everyone that the bear market is officially over.
Another critical metric reported was U.S. Housing Starts, which rose to 22.62%, compared to 17.53% last month.
Retail giant Walmart Inc. reported its second quarter results; its quarterly revenue rose to $ 93.3 billion, a 9.5% increase, with 97% of the sales growth from its e-commerce site. Net Income for the quarter rose to $ 5.1 billion, an increase of 8.5%. Walmart stock closed at $ 134.65.
While financial markets continue to experience a quite remarkable recovery, we will not see a full economic recovery until 2021, assuming the coronavirus is reined in.
On to markets.
- The Dow Jones Industrial Average closed at 27,778.07, down 66.84 points, or 0.24%.
- The Standard & Poor's 500 Index closed at 3,389.78, up 7.78 points, or 0.23%.
- The NASDAQ Composite Index closed at 11,210.84, up 81.12 points , or 1%.
- The Birling Capital Puerto Rico Stock Index closed at 1,505.81, down 6.91 points, or 0.46%.
- The US Treasury 10-year note closed lower, at 0.67%.
- The U.S. Treasury 2-year note closed flat, at 0.14%.