Another all-time high as earnings season rolls on

02 Nov 2021

📈 SPX | 4,614 (+8, +0.2%)
📈 DJIA | 35,914 (+94, +0.3%)
📈 CCMP | 15,596 (+98, +0.6%)

🎉 The S&P500 has now surged by nearly 300 points since the beginning of the earnings “season”, led by continued gains in mega-caps such as Tesla (+8.5%)

🏦 The Federal Reserve meets this Wednesday, and is highly expected to announce a taper – although a timeline may not be forthcoming. Most do however expect the taper to be quick, given the generally high inflation and high asset prices seen recently.

🛢 Oil blunted gains and continued trading below $85 as US oil inventories came in higher than expected.

💉 Moderna (-2.3%) fell ahead of earnings later this week (Thursday), as the US FDA delayed a decision to authorise Moderna COVID-19 jabs for teenagers. Pfizer’s (-0.3%) shot has been authorised for children as young as 12, since May.