Business & Investment

Wall Street Book Records, Weekly Benefits of Powerful Work Reports, Pfizer COVID-19 Pill Support Reuters

© Reuters. File Photo: Trader works on the floor of the New York Stock Exchange (NYSE) in New York City, USA on October 20, 2021. REUTERS / Brendan McDermid

Lewis Krauskopf, Devik Jain, Bansari Mayur Kamdar

(Reuters)-Wall Street’s key index hit a record high on Friday with strong US employment reports Pfizer Experimental tablets for COVID-19.

And Nasdaq recorded record highs in seven consecutive sessions, which also ended with record highs. All three indexes recorded weekly rises for the fifth straight week.

According to a Labor Ministry report, US employment increased more than expected in October as headwinds from the summer surge in COVID-19 infection subsided.

Pfizer (NYSE :) experimental antiviral trials for COVID-19 have been shown to reduce the chances of hospitalization or death in adults at risk of developing severe illness by 89%, early on Was canceled. Pfizer shares surged about 11%.

The news continued to execute stocks after the Federal Reserve’s decision to begin reducing monthly bond purchases made by investors to support the economy earlier in the week.

Chuck Carlson, Chief Executive Officer of Hammond’s Horizon Investment Services, said: , Indiana.

The Dow Jones Industrial Average rose 203.72 points (0.56%) to 36,327.95, and the S & P 500 rose 17.47 points (0.37%) to 4,697.53 and 31.28 points (0.2%) to 15,971.59. ..

That week, the S & P 500 rose 2%, the Dow rose 1.42% and the Nasdaq rose 3.05%.

Travel stocks increased following Pfizer’s announcement, S & P 1500 airline index rose 7%, cruise operator Carnival (NYSE :) Corp, Royal Caribbean (NYSE :) Cruises and Norwegian Cruises are rising between about 8% and 9%.

Andre Bakos, Managing Director of New Vines Capital LLC in Bernersville, said: New jersey.

In the S & P 500 sector, energy and industry led by 1.4% and 1%, respectively.

Healthcare was the only sector that fell 1% and ended in a negative. Pfizer news has squeezed the market share of competitors such as Merck, which fell nearly 10%, and COVID-19 vaccine makers such as: Modana (NASDAQ :), down 16.6%.

The share of the so-called “at home” name is Zoom video communication (NASDAQ :) was down 6.2% and Netflix Inc (NASDAQ :) was down 3.4%.

Higher-than-expected third-quarter earnings helped increase sentiment for equities. According to Refinitiv IBES, about 440 companies report, and S & P 500 revenue is expected to increase by 41.5% year-on-year in the third quarter.

Pinterest (NYSE :) Inc’s share price rose 5.9% after the company’s strong earnings forecast for the fourth quarter.

Shares of Peloton Interactive (NASDAQ :) Inc fell 35.3% after the company lowered its full-year sales forecast by up to $ 1 billion.

On the New York Stock Exchange, ongoing issues outnumber ongoing issues by a ratio of 2.16: 1. At Nasdaq, a 1.22 to 1 ratio favored the Advancer.

The S & P 500 recorded 83 new 52-week highs and two new lows. The Nasdaq Composite recorded a new high of 303 and a new low of 80.

Approximately 11.5 billion shares were traded on US exchanges, compared to an average of 10.5 billion shares per day in the last 20 sessions.



Wall Street Book Records, Weekly Benefits of Powerful Work Reports, Pfizer COVID-19 Pill Support Reuters

https://www.investing.com/news/economy/sp-nasdaq-futures-scale-new-heights-on-earnings-bullishness-2669601 Wall Street Book Records, Weekly Benefits of Powerful Work Reports, Pfizer COVID-19 Pill Support Reuters

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