Consecutive record for the S&P500 on strong earnings

03 Nov 2021

📈 SPX | 4,631 (+17, +0.4%)
📈 DJIA | 36,053 (+139, +0.4%)
📈 CCMP | 15,650 (+54, +0.3%)

🎉 The Russell 2000 of small-caps closed at a record high as well, with a strong earnings season acting as a tailwind for positive sentiment in equities.

🚂 Around 83% of S&P500 companies reporting earnings so far have beat expectations.

📈 Stocks such as Under Armour (+16.5%) popped after reporting positive earnings results, while raising their annual outlook. Tesla (-3.0%) however, dipped slightly after a declared recall (11,700 cars) and Elon Musk tweeting that they have not signed a contract with Hertz.

🛢 US President Biden and other countries from Japan to India called on oil-producing nations yesterday to produce more oil, an unusual amount of pressure likely spurred by rising energy costs.