Market close: Dow notches milestone finish, Tesla shares soar
By Joseph Toppe
20:39, 22 October 2021
The Dow added over 70 points in trading on Friday, pushing the Blue-Chip index to a new closing record.
By the close of Friday’s session, the Dow added 74 points, or 0.2% to 35,677.08, posting its first record close since 16 August.
The S&P 500 went down 0.2% 4,544.90 a day after the benchmark closed at a record
The S&P 500 edged lower by 0.02% to 4,544.90 a day after the benchmark closed at a record, as the Nasdaq Composite went down 0.8% to 15,090.20.
Despite Friday’s mixed results, the major averages are on track to close the week higher.
On Thursday, the S&P 500 hit a new intraday high and record close, while the Dow touched notched its own mid-day record earlier in the week.
On the month, the S&P and Dow are up 5% while the Nasdaq is up 4%.
Friday’s winners and losers
Shares for Tesla are up 1% after hitting a new intraday high. Following Thursday’s session, shares for the electric vehicle maker closed 3% higher after posting record profit and revenue for the third quarter.
Shares for Netflix are up 0.4%, while shares for Snap are down over 25% after the social-media company said changes to Apple’s privacy rules would stall its ad revenues.
Shares for Facebook and Twitter both dropped 6% and 4%, respectively during trading on Friday.
Following a 10% drop at mid-day, shares for Intel sank another 1% by the close of today’s session. The company recently reported weaker-than-expected sales.
Shares for American Express are now up 5.5% after the company posted a rise in earnings and exceeded analysts’ predictions.
In assets, the yield on the 10-year Treasury note rose to 1.654% on Friday, from 1.574% last week.
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Global markets
The pan-continental Stoxx Europe 600 rose 0.5%, while in Asia, Japan’s Nikkei 225 rose 0.3%, and the Hang Seng Index rose 0.4%.
On mainland China, the Shanghai Composite Index fell 0.3%.
Read more: Crude futures climb for 9th straight week
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