SAN JUAN – The US and European stocks rose Tuesday, except for the Nasdaq index, following the deal that the eurozone leaders struck for a 750 billion euro pandemic recovery fund.
In the United States, Republican Senate leader Mitch McConnell of Kentucky proposed the framework for the next coronavirus package. Among the funding mentioned is $ 105 billion for schools, additional funding for the Small Business Administration’s Paycheck Protection Program, and more checks for Americans.
Moreover, as earnings season begins, the continued optimistic view of the COVID-19 vaccines has allowed the market to continue its rise. The Coca-Cola Co. reported that revenue declined 28% to $ 7.2 billion, its most significant decline in a quarter-century. Coca-Cola also stated that even though its revenues were better than expected, it was going to retire what they refer to as “Zombie Brands”; first among them, Odwalla.
- The Dow Jones Industrial Average closed at 26,840.40, up 159.53 points, or 0.6%.
- The Standard & Poor's 500 Index closed at 3,257.30, up 5.46 points, or 0.17%.
- The NASDAQ Composite Index closed at 10,680.36, down 86.73 points, or 0.81%.
- The Birling Capital Puerto Rico Stock Index closed at 1,441.82, down 21.52 points, or 1.47%.
- The US Treasury 10-year note closed at 0.61%.
- The U.S. Treasury 2-year note closed at 0.14%.