By Francisco Rodriguez-Castro on October 23, 2020
The US and European stock markets closed mostly up for the week, as several issues provoked investor skepticism. There are differing messages on negotiations between Republicans and Democrats on a stimulus deal; however, White House Chief of Staff Mark Meadows reportedly said a deal could be reached as soon as the next day or two.
As part of the race to treat Covid-19, the Food and Drug Administration approved Gilead Sciences’ Remdesivir, which was limited to emergency use, to treat hospitalized patients with the novel disease.
As for the eurozone, we report that the European third-quarter reporting season arrived and reveals a broader snapshot of the economy and corporate health in the wake of the Covid-19 pandemic. We can now say that 3Q should see the announcement of much better earnings.
On to markets.
- The Dow Jones Industrial Average closed at 28,335.37, down 28.09 points, or 0.1%.
- The Standard & Poor’s 500 Index closed at 3,465.39, up 11.9 points, or 0.34%.
- The NASDAQ Composite closed at 11,548.28, up 42.28 points, or 0.37%.
- The Birling Capital Puerto Rico Stock Index closed at 1,694.37, up 45.22 points, or 2.74%
- The 10-year note of the US Treasury closed higher, at 0.85%.
- The 2-year note from the US Treasury closed higher, at 0.18%