Record Closes for Dow, S&P 500 as Big Tech Earnings Loom

Alphabet, Microsoft, and Apple report earnings later this week

Deputy Editor
Oct 25, 2021 at 4:26 PM
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Investor sentiment soared today, pushing the Dow and S&P 500 to record closes, the former's second straight. The tech-heavy Nasdaq nabbed a triple digit win, as big hitters like Alphabet (GOOGL), Microsoft (MSFT), and Apple (AAPL), prepare to chime in with their latest quarterly results. In other news, Tesla (TSLA), fresh off its own stellar earnings report, saw its market cap surpass $1 trillion.

Continue reading for more on today's market, including:

The Dow Jones Average (DJI - 35,741.15)  added 64.1 points or 0.2% for the day. Walt Disney (DIS) paced the gainers with a 1.5% rise, while American Express (AXP) fell to the bottom, shedding 2.6%.

The S&P 500 Index (SPX - 4,566.48) gained 21.6 points, or 0.5% for the day, while the Nasdaq Composite (IXIC - 15,226.71) tacked on 136.5 points, or 0.9% for the day. 

Lastly, the Cboe Volatility Index (VIX - 15.24) shed 0.2 point, or 1.2% for the day.

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  1. U.S. President Joe Biden's "Build Back Better" plan continues to be intensely negotiated.  (MarketWatch)
  2. Ahead of the holiday shopping season, business groups are asking the White House to delay its Covid-19 vaccine mandate(CNBC)
  3. Burger King's parent company reported lackluster revenue. 
  4. Why Kimberly Clark stock hit annual lows.
  5. Whirlpool stock slapped with a downgrade. 

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Oil Prices Hits 7-Year High

Oil prices were unchanged today, though crude hit its highest level in seven years earlier in the session amid tight global supply. The most active December-dated crude contract settled at $83.76 a barrel.

Gold prices rose as well today, with bullions appeal boosted by retreating U.S. bond yields and inflation anxieties. Looking ahead, the U.S. Federal reserve is set to meet early next week. December-dated gold tacked on $10.50, or 0.6%, to settle at $1,806.80 an ounce.

 

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