S&P 500 Closed Friday At Record High Again On Strong Earnings Reports

Published Friday, October 29, 2021 at: 7:19 PM EDT

Despite some bad economic news this past week, the Standard & Poor’s 500 stock index closed today at a record high on stronger-than-expected earnings reports.  This past week, a sluggish 2% growth rate was reported for the third quarter by the U.S. Bureau of Economic Analysis. Amazon’s reported lower than expected earnings, and the Federal Reserve raised its estimate of the current inflation rate. Yet investors focused on the good news on corporate earnings and appear to agree with the Fed’s prediction that the elevated inflation rate will revert to 2% by the end of 2022.  With nearly half of the companies...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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