October 22, 2021

Stocks pulled back from records today as investors digested new commentary on asset-purchase tapering and inflation from Federal Reserve Chair Jerome Powell.

Dow Jones finished +74 at 35,677

S&P 500 finished -5 at 4,544

NASDAQ finished -126 at 15,090

The 10 Year Treasury closed down 3 basis points yielding 1.64%

Oil prices closed up $1.50 ending at $84.00 a barrel.

Gold prices closed up $13.00 ending at $1,795 an ounce.

In the days’ stock news:

Snap closed down more than 26% after it reported its quarterly results, which included a revenue miss as well as an earnings beat. The social media company said its advertising business declined due to Apple’s privacy changes.
Shares of Digital World Acquisition Corp the SPAC that is taking former President Donald Trump’s planned social media platform public, soared again in roller-coaster trading. It closed up 107%.