SAN JUAN – The US stock market broke its upper limits Monday, delivering a record-breaking trading day.
In most investors ’minds, there is the realization of how improbable this outsized market recovery has been. Most wonder whether it will be longlisting and in which direction the market is taking us.
As we peel the onion layers, we realized that most global stocks have already erased most of the losses caused by the exogenous shock that is the pandemic. However, where the most significant action has taken place in the U.S. stock market is delivering record-breaking gains. The timing and size of the fiscal and stimulus-response have made all the difference in the world.
On Monday, the Food and Drug Administration utilized its emergency-use authorization process for convalescent plasma from recovered patients to treat infected patients in hospitals . There is also talk that the approval of Astrazeneca and Oxford University’s experimental drugs may also be fast-tracked.
On to markets.
- The Dow Jones Industrial Average closed at 28,308.46, up 378.13 points, or 1.35%.
- The Standard & Poor's 500 Index closed at, 3,431.28, up 34.12 points, or 1%.
- The NASDAQ Composite Index closed at 11,379.72, up 67.92 points, or 0.60%.
- The Birling Capital Puerto Rico Stock Index closed at 1,557.82, up 2.84 points, or 0.18%.
- The US Treasury 10-year note closed flat, at 0.65%.
- The U.S. Treasury 2-year note closed higher, at 0.14%.