By Francisco Rodriguez-Castro on September 14, 2020
SAN JUAN – After a week of intense volatility and losses, the US stock market began the week on a high note. The technology sector was able to brush off a week of upsets, with a 2.27% increase and 23.22% year-to-date.
As the markets continue to face fragility and high volatility episodes, always bear in mind that investors often realize profits at market highs and rebalance their portfolios to continue. We expect the overall market to regroup, considering the current economic strengths and positive financial data.
This past week, Senate Republicans made an effort to pass a $ 650 billion economic stimulus bill that Democrats say is not nearly big enough to be of significance for an economic recovery. We believe that the legislation will be negotiated and will be a combination of the House’s $ 3 trillion bill and the original $ 1 trillion Republican proposal.
On to markets,
- The Dow Jones Industrial Average closed at 27,993.33, up 327.69 points, or 1.18%.
- The Standard & Poor’s 500 Index closed at 3,383.54, up 42.57 points, or 1.27%.
- The NASDAQ Composite Index closed at 11,056.65, up 203.11 points, or 1.87%.
- The Birling Capital Puerto Rico Stock Index closed at 1,511.69, down 24.79 points, or 1.61%.
- The US Treasury 10-year note closed higher, at 0.68%.
- The US Treasury 2-year note closed higher, at 0.14%.