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Market roundup for Aug. 24 – Caribbean Business

By on August 25, 2020

SAN JUAN – The US stock market continued its rally Tuesday, albeit mixed, as the Dow Jones fell; however, the S&P, NASDAQ and Birling Capital Puerto Rico Stock index closed higher.

Two vital economic metrics reported:

  • U.S. New Single-Family Houses Sold: Rose to 901,000, up from 791,000 last month and up from 661,000 one year ago. This is an increase of 13.91% from the previous month and 36.31% from a year ago.
  • Consumer Confidence: The Conference Board's index decreased to 84.8, the lowest level since the pandemic began, and down from 91.7 last month, much worse than estimates of 93.

While the news is mixed, we believe investors may be reacting to the announcement by the United States and China confirming their respective commitments to the “phase one” trade deal.

On to markets:

  • The Dow Jones Industrial Average closed at 28,248.44, down 60.02 points, or 0.21%.
  • The Standard & Poor's 500 Index closed at 3,443.62, up 12.34 points, or 0.36%. [19659006] The NASDAQ Composite Index closed at 11,466.47, up 86.75 points, or 0.76%.
  • The Birling Capital Puerto Rico Stock Index closed at 1,590.24 points, up 32.42, or 2.08%.
  • The US Treasury 10-year note closed higher, at 0.69%.
  • The U.S. Treasury 2-year note closed higher at 0.15%.

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