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Global Market Square September 13, 2021 (Birling Capital Publications)

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Por: Birling Capital Publications

Global Market Square September 13, 2021

The U.S. is on route to reach a 6% GDP growth rate, the fastest in 37 years, and Wall Street breaks losing streak, Global Market Square presented by Birling Capital.
 
The U.S. and European stock markets began the week mostly higher, breaking the losing streak. The Nasdaq Composite was the outlier as the market stock rotations moved away from tech stocks.  The market may have absorbed better than expected the news of the Federal Reserve Bank planed tapering as we enter a normalized economic, operational pandemic relief if no longer as relevant. 

Let us consider the facts:

  1. A recent survey of 70 plus investment firms have a consensus of 6% GDP growth, and There should not be dissatisfaction with a 6% growth rate, the fastest growth rate in 37 years. 
  2. With Job openings at 10.93 million, there is ample runway to grow. 

Investors will ultimately react positively to the tapering when they see the economy in a more robust shape and achieving the fastest growth rate in 37 years will do it.
 
Key economic benchmarks reporting today:

  • Chicago Fed Survey of Business Conditions Activity Index: fell to -2.094, down from 13.59 last month.
  • US Retail Gas Price; increased to $3.273, up from $3.237 last week, an increase of 1.11%.
  • Japan Industrial Production Index MoM: fell to -1.51%, compared to 6.52% last month. 
  • Japan Mining and Manufacturing Production YoY: rose to 15.83%, compared to 3.43% last month. 

Eurozone Summary for September 13:

  • Stoxx 600 closed at 467.56, up 1.22 points or 0.26%.
  • FTSE 100 closed at 7,068.43, up 39.23 or 0.56%.
  • Dax Index closed at 15,701.42, up 91.61 points or 0.59%.

Wall Street summary for September 13:

  • Dow Jones Industrial Average closed at 34,876.63, up 261.91 points or 0.76%. 
  • Standard & Poor’s 500 closed at 4,468.73, up 10.15 or 0.23%.
  • Nasdaq Composite Index closed at 15,105.58, down 9.91 points, or 0.07%.
  • Birling Capital Puerto Rico Stock Index closed at 2,757.09, down 20.52 points, or 0.74%.
  • US Treasury 10-year note closed at 1.33%.
  • US Treasury 2-year note closed at 0.21%.

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