NEW YORK (Pakistan Point News / Sputnik - 21st October, 2021) US stocks closed mostly higher on Wednesday, with the broad-based Dow Jones Industrial Average hitting all-time highs, amid stellar earnings reported by American companies for the third quarter.
Wall Street icon Goldman Sachs, healthcare giant Johnson & Johnson, consumer products behemoth Procter & Gamble and streaming service Netflix are among companies that have reported better-than-expected profits for the quarter. On the technology front, Apple rolled out new accessories this week while Google introduced its latest line of phones.
"Earnings season is off to a strong start which is continuing to buoy stock markets and keep investors on board," Craig Erlam, analyst at online trading platform OANDA, said.
The combination has fueled gains not just on the Dow but also the blue-chip S&P 500, which groups the top 500 US stocks.�The tech-laced Nasdaq Composite settled almost unchanged on profit-taking after hefty gains earlier in the day.
The Dow closed up 152 points, or 0.4%, at 35,609. It hit a record high of 35,670 earlier and is up 5.2% for October.
The S&P 500 index finished up 18 points, or 0.4%, at 0.7%, at 4,538. The blue-chip indicator rose to a high of 4,541 earlier, coming less than five points from a record high. The S&P 500 is also up 5.3% for October.
Nasdaq, comprising Big Tech Names such as Facebook, Amazon, Apple, Netflix and Google, settled down 7 points, or virtually flat. It is up 4.7% on the month.
