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Market roundup for Oct. 12 – Caribbean Business

By on October 12, 2020

SAN JUAN – The US stock market doubled down on last week’s rally, closing higher Monday, led by the large tech stocks, as it appears that investors have assessed Joe Biden’s lead in the polls and seem to be comfortable with the prospects of a Biden presidency .

As we review the tech stocks, we highlight the best performers:

  • Apple (AAPL) closed at $ 124.58 up $ 7.61 or 6.51%.
  • Amazon (AMZN) closed at $ 3,443.00 up $ 156.35 or 4.76%.
  • Facebook (FB) closed at $ 275.94 up $ 11.94 or 4.34%.
  • Microsoft (MSFT) closed at $ 221.27 up $ 5.46 or 2.53%.

In Apple’s specific case, the company has its annual iPhone unveiling tomorrow. The analyst expects Apple to present a new line of iPhones with 5G technology and a less expensive HomePod speaker, and a new line of over-the-ear AirPods. These Apple events often become a spark to fire up the Christmas shopping season if they are a hit.

On to markets.

  • The Dow Jones Industrial Average closed at 28,837.52 up 250.62 points, or 0.88%.
  • The Standard & Poor’s 500 Index closed at 3,534.22, up 57.09 points, or 1.64%.
  • The NASDAQ Composite Index closed at 11,876.26 up 296.32 points or 2.56%
  • The Birling Capital Puerto Rico Stock Index closed at 1,678.65, up 4.01 points or 0.24%
  • The US Treasury 10-year note closed at 0.79%.
  • The US Treasury 2-year note closed at 0.16%.

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