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US Stocks Hit Record Highs Across The Board Tuesday Morning On Strong 3rd Quarter Earnings
Fahad Shabbir (@FahadShabbir) Published October 26, 2021 | 07:48 PM
Wall Street hit record highs at Tuesday's opening as strong third quarter earnings for US companies and the prospect of better business ahead from the loosening of more COVID-19 restrictions sent stocks rallying across the board
NEW YORK (UrduPoint News / Sputnik - 26th October, 2021) Wall Street hit record highs at Tuesday's opening as strong third quarter earnings for US companies and the prospect of better business ahead from the loosening of more COVID-19 restrictions sent stocks rallying across the board.
The three major US equity indices - Dow Jones Industrial Average, S&P 500 and Nasdaq Composite - hit all-time highs on Tuesday morning, reinforcing their recent uptrend after brutal plunges in September and sheer volatility earlier this month.
Equity analysts said strong earnings from Big Tech companies are expected to bolster the market further by Wednesday's close.
"In all likelihood, it will be the Q3 results from Apple, Alphabet and Twitter that will drive directional volatility on Wall Street," Jeffrey Halley, head of research for Asia at online trading platform OANDA, said.
The Dow, a blue-chip index which groups mostly industrial stocks, was up 0.3% at 35,839 by 10:00 a.m. ET (14:00 GMT) after a record high of 35,791 earlier.
The S&P 500, which consists of the top 500 US stocks, was up 0.5% at 4,587. It hit an all-time high of 4,581 earlier.
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