Market wraps mixed mostly higher; tech stock rally to pull NASDAQ up

SHEUNG WAN, Hong Kong - Nov. 16, 2021 - PRLog -- The S&P 500 and the Nasdaq both gained for the first time in four sessions, with technology stocks leading the way.

The third-quarter earnings season has also accelerated, with big businesses such as JPMorgan Chase (JPM) and BlackRock (BLK) releasing results before the market opens. JPMorgan Chase, the largest bank in the United States by assets, reported earnings that beat expectations on both the top and bottom lines, thanks to a larger-than-expected release of credit reserves and robust sales in the investment banking and equities trading divisions.

Given that rising ingredient prices, higher labor costs, and other supply-side challenges likely weighed on margins and chipped away at profitability, investors have been lowering their expectations for overall S&P 500 profits growth in the third quarter. Supply chain shortages and shipping issues have already had an impact on a variety of enterprises across industries, as evidenced by recent developments.

Costco (COST) and Walmart (WMT), according to the Wall Street Journal, have resorted to chartering their own ships to import items ahead of the holiday season. Due to continued processor shortages, Apple (AAPL) is expected to decrease its iPhone manufacturing estimates for this year by up to 10 million handsets.

A brief movement from Stocks and Bonds are listed below:

-       The Dow went down at 34,377.81, decreasing by 0.53 points or 0.00%.
-       NASDAQ ended higher at 14.571.64, gaining 105.71 points or 0.73%.
-       The S&P 500 Index landed at 4,363.80 after rising by 13.15 points or 0.30%.
-       U.S. 2 Year Treasury yield down by 0.006 basis points at 0.3540.
-       U.S. 5 Year Treasury yield slumped by 0.016 basis points at 1.0580.
-       U.S. 10 Year Treasury yield decreased by 0.014 basis points at 1.5250.

Crudes and precious metals have gained few percent on today's market while currencies ended up mixed.

-       Gold down to $1,796.73 per ounce after gaining $3.485 or 0.19%
-       Silver currently at $22.323 per ounce after increasing by 1.00%.
-       Western Texas Intermediate Crude increased and now at $80.98 per barrel.
-       Brent crude at $83.80 per barrel after jumping by 0.75%.
-       Euro down by 0.00088 closing 1.15887 vs USD.
-       Yen increased by 0.437 at 113.680 against USD.
-       British Pound jumped by 0.0017 at 1.3675 versus USD.

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