S&P Just Notched a Record

Index closes at an all-time high
By Newser Editors and Wire Services
Posted Oct 21, 2021 3:09 PM CDT
S&P Just Notched a Record
A Wall Street sign is seen next to surveillance equipment outside the New York Stock Exchange, Tuesday, Oct. 5, 2021, in New York.   (AP Photo/Mary Altaffer)

Stocks wobbled in afternoon trading on Wall Street Thursday, but the benchmark S&P 500 inched up to close at a record high, reports CNBC. The index rose 13 points to 4,549, boosted by strong earnings from Tesla and other companies. It's the S&P's seventh straight day of gains, putting the index up about 5% in October. The Dow, meanwhile, slipped 6 points to 35,603 and the Nasdaq rose 94 points to 15,215. Elsewhere, US crude oil prices fell 1.1% and weighed down energy stocks, per the AP. Devon Energy fell 3.4% and Schlumberger fell 1.8%. Financial companies also fell broadly. Capital One slid 4.1% and Discover Financial Services dropped 6.2%.

WeWork rose 6.7% in its second attempt to become a publicly traded company. The company, which provides shared workspaces, had a spectacular collapse during its first attempt to do so two years ago and is emerging after the pandemic closed millions of square feet of office space. Generally, investors are reviewing the latest earnings reports with supply chain problems and the impact from rising inflation as a key focus. Many companies have warned that the supply chain issues and overall higher costs will hurt operations, and Wall Street is trying to gauge just how much it will sting corporate profit growth and margins.

(More stock market stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.