Market Close Analysis 28 Oct 2021


Market close     

The S&P 500 and Nasdaq climbed to record highs Thursday, as big tech continued to rack up gains as investors looked ahead to quarterly earnings from Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL).

The Nasdaq  rallied 1.4%, to a close at a record of 15,448.12 The S&P 500 added 0.98% to a close at record of 4,596.36. The Dow Jones Industrial Average gained 0.67%, or 239 points.

Apple and Amazon led the gains for big tech as investors increased their bullish bets on the stocks ahead of the duo’s quarterly reports due after the market close.

Facebook (NASDAQ:FB), meanwhile, announced it would change its name to Meta. The news came out at its virtual reality conference, where it showcased a preview of its ambitions to build the metaverse as it seeks to diversify beyond social media. The company will trade under the ticker “MVRS” starting Dec. 1.

eBay (NASDAQ:EBAY) shares slipped about 6% after its fourth-quarter revenue guidance fell short of estimates, stoking worries about its sales ahead of the holidays.

Written by Editor

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