A Snapshot of the Market for the Week Ended October 22, 2021:
The S&P 500 hit a record high on the back of another strong week for earnings, reaching its 55th record close of the year. Of the 80 companies on the S&P 500 to have reported through Wednesday, 81% had topped analysts’ earnings forecasts. Corporate profits in Q3 are expected to have jumped more than 35% from the prior year. The broad market eased off from an all-time high on Friday because big tech stocks were hit hard. Nevertheless it was up 74 points or 1.7 % to end at 4545.
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By Hubert Marleau
By Hubert Marleau