October 22, 2021

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%.

 

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