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Market wraps mixed; Dow sets fresh intraday records, S&P 500 hits 6 consecutive wins
Investors viewed a batch of stronger-than-expected earnings data with greater optimism about the trajectory of corporate profits, even in the face of continued supply chain limitations, as stocks extended their gains.
On the other hand, Netflix's stock dropped despite exceeding Wall Street's forecasts for third-quarter profitability and subscriber growth. United Air Lines' stock increased after the airline reported a smaller-than-
These earnings reports, along with those from earlier reporting such as the large banks last week and Procter & Gamble and Johnson & Johnson earlier this week, have helped alleviate traders' concerns that corporate profits would decline sharply following a second-quarter boom. Investors have been watching inflation data with bated breath, as prices have risen by the most in decades, despite a slew of claims of continuing labor and material shortages, as well as delivery concerns. All of these variables were predicted to have a significant impact on business profits.
Mabel Investment Company Limited