Market roundup for Oct. 13 – Caribbean Business

The US and global stock markets ended Tuesday with losses, as the International Monetary Fund issued its much expected “World Economic Outlook (WEO) Update” and projected a minus-4.4% contraction for 2020.

While this is better than the severe contraction forecasted in June, the IMF stated that the health crisis had caused “enduring damage” to the world’s economy. However, global growth is projected at 5.2% for 2021.

Also, the US Consumer Price Index rose slightly to 260.28, up from 259.92 last month, a 0.14% change.

On to markets.

• The Dow Jones Industrial Average closed at 28,679.81 up 157.71 points, or 0.55%.
• The Standard & Poor’s 500 Index closed at 3,511.93, down 22.29 points, or 0.63%.
• The NASDAQ Composite Index closed at 11,863.90, down 12.36 points or 0.1%
• The Birling Capital Puerto Rico Stock Index closed at 1,679.71, up 1.06 points or 0.6%
• The US Treasury 10-year note closed at 0.74%.
• The US Treasury 2-year note closed at 0.16%.