Market close: S&P’s winning streak continues, hits new record
By Joseph Toppe
20:31, 21 October 2021
The S&P 500 hit a new closing high on Thursday, wiping out a two-month decline.
At the close of trading on Thursday, the S&P 500 was up 0.3% to post both an intraday record and record close at 4,551.44.
The Nasdaq Composite improved 0.6% to 15,215.70, while the Dow Jones Industrial average lost 6.26 points to 35,603.08.
The S&P 500 is now up 1.6% for the week and 5% on the month.
Thursday’s winners and losers
Shares for IBM plummeted 8.5% after reporting weaker-than-expected revenue and is on track for its biggest drop since January.
Shares for AT&T sank 1% following the company’s expectation on full-year earnings to reach the high end.
After reporting record earnings that showed substantial growth in both profits and revues, shares for Tesla added 3.2%.
In their trading debut on Thursday, shares for WeWork improved 11%. The office startup went public through a special purpose acquisition company more than two years after its failed IPO.
In the energy sector, Brent crude, the international oil benchmark, fell nearly 2.3% to $83.83.
In assets, the yield on benchmark 10-year Treasury note edged up to 1.675% Thursday from 1.635% Wednesday
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The pan-continental Stoxx Europe 600 fell 0.1%, while in Asia, Hong Kong’s Hang Seng Index fell 0.5%, Japan’s Nikkei 225 lost 1.9% and China’s Shanghai Composite Index ticked up 0.2%.
Read more: WeWork jumps as much as 12% in public debut