Stocks wrapped higher; bouncing back after ending 3rd quarter lower

Stocks jumped to reverse last month's losses due to volatile trading. All three major indexes ended higher with the Dow recording the best opening session for October since way back 2003.
CENTRAL, Hong Kong - Oct. 12, 2021 - PRLog -- The Dow was carried by Merck's success after the drug manufacturer announced their positive results with their COVID-19 antiviral medicine.

The Dow managed to lodge an increase of almost 500 points, or about 1.4%. The S&P 500 also logged an outstanding start with the index gaining by about 1.2% thanks to cyclical stocks driving the index higher. NASDAQ, although it also increased, was left behind with only a jump of 0.9%.

The session wrapped as listed:
  • NASDAQ Composite Index gained by 0.82% or 118.12 points and wrapped at 14,566.70.
  • The S&P 500 Index went up by 1.15% or 49.55 points closing at 4,357.09.
  • The Dow Jones Industrial Average moved higher with 1.43% or 483.20-point gain, to end at 34.327.70.
  • U.S. 5 Year Treasury yield lost 0.037 basis points and now at 0.931.
  • U.S. 10 Year Treasury yield went down by 0.024 basis points closing 1.465.
  • U.S. 30 Year Treasury yield stepped down by 0.016 basis points at 2.031.
Friday's market was driven by traders that got free from the jitters caused by the monetary policy shift and fiscal policy backdrop, along with the inflation and coronavirus worries.

September ended the monthly win streak for most of the indexes. S&P logged a 4.8% drop, the Dow with 4.4% decline and NASDAQ shredding 5.4% due to investors shying away from growth and tech stocks amidst possible inflation expansion.

Precious metals such as gold and silver increased a few bucks while global currencies ended up mixed.
  • Gold moved up by $3.88 or 0.22% and is now at $1,760.92 per ounce.
  • Silver increased by $0.3625 or 1.63% to $22.539 an ounce.
  • Western Texas Intermediate Crude is currently at $75.88 a barrel gaining 1.13%.
  • Brent Crude closed at $79.28 per barrel after increasing by 1.24%.
  • Euro / USD = +0.00143 (0.12%) = 1.15940
  • USD / Yen = -0.280 (0.25%) = 111.008
  • AUD / USD = +0.00298 (0.41%) = 0.72560
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