November 3, 2021

November 3, 2021

Stocks rose to new records today after the Federal Reserve made its long-anticipated announcement to slow the monthly bond purchases implemented during the pandemic.

 

Dow Jones finished +105 at 36,157

S&P 500 finished +30 at 4,660

NASDAQ finished +162 at 15,811

 

The 10 Year Treasury closed up 5 basis points yielding 1.60%

Oil prices closed down $4.08 ending at $79.83   a barrel.

Gold prices closed down $15.90 ending at $1,774 an ounce.

 

In the days’ stock news:

 

  • Activision Blizzard closed down 14% despite reporting better-than-expected quarterly earnings of 72 cents per share, compared to analysts’ estimates of 70 cents. It also reported revenue of $1.88 billion, right in line with analysts’ expectations.
  • CVS closed up more than 5% after they beat Wall Street expectations for third-quarter earnings and hiked its outlook for the year. The company posted adjusted earnings of $1.97 per share on revenue of $73.79 billion. CVS reported Covid-19 tests and vaccines boosted sales.

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