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Wealth Daily 08 November 2021

Two pieces of good news drove US stocks higher on Fri. The Oct jobs report

from the US Department of Labor was better than expected, and Pfizer (PFE

US, +10.86%) said that its Covid-19 pill cut the risk of hospitalization or death by

89% in high-risk adults who’ve been exposed to the virus.

The Dow Jones Industrial Average gained 203.72 pts, or 0.56%, to close at

36,327.95 on Fri. The S&P 500 index rose 0.37%, The tech-heavy Nasdaq

Composite advanced 0.2%.

The US economy added 531,000 workers in Oct and Sep’s figure was revised

up significantly to 312,000. The unemployment rate edged down to 4.6%.

Usually, good economic data pushes bond yields higher, but on Fri, the yield on

the 10-year Treasury note slipped 7.48 basis points (bps) to 1.4513%.

WEALTH DAILY 2021-11-08
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