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Wealth Daily 10 November 2021

Shares on Wall Street pulled back on Tue, snapping an 8-session winning

streak. The Dow Jones Industrial Average lost 112.24 pts, or 0.31%, to close at

36,319.98. The S&P 500 index fell 0.35%. The tech-heavy Nasdaq Composite

retreated 0.60%.

Tesla (TSLA US, -11.99%) shares helped drag the market down, and according

to CNBC, Elon Musk is not selling 10% of his shares because of a Twitter poll.

CNBC says the “real reason” is that Musk faces a tax bill of more than US$15b

in the coming months on stock options.

General Electric (GE US, +2.65%) will split into three companies focused on

health care, power and aviation.

The yield on the 10-year Treasury note slipped 5.39 basis points (bps) to

1.4358%, hitting a fresh multi-week low. The yield of shorter maturities dropped

less. The 2-year yield dropped 3 bps to around 0.42%.

WEALTH DAILY 2021-11-10
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