The Dow and S&P 500 pulled back from recent highs on Wed. The Dow Jones
Industrial Average lost 266.19 pts or 0.74% lower to close at 35,490.69. The
broader S&P 500 index fell 0.51%.
The tech-heavy Nasdaq Composite was able to finish just barely in the green,
propped up by strong performances from Microsoft (MSFT US, +4.21%) and
Alphabet (GOOGL US, +4.96%). Both reported results that beat estimates.
In global bond markets, yields curves were flattening. Central bankers are
preparing to tighten monetary policies to combat inflation, sending the yields of
short-term government debt higher. Meanwhile, bond traders are starting to
wonder whether economies can handle higher rates, sending the yields of
longer term bonds lower.
WEALTH DAILY 2021-10-28
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