Monday 18th October 2021
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U.S. stocks rallied Friday following both the unexpectedly blockbuster earnings from Goldman Sachs and a rise in retail sales. Retail sales increased 0.7% in September, rather than the 0.2% decline that analysts expected. Retail sales were driven primarily by back – to- school shopping and more workers returning to the office. The Dow Jones Industrial Average closed 382 points, up1.1%, while the S&P 500 index and the Nasdaq Composite ended higher by 0.75% and 0.5%, respectively.
Other key overseas markets were broadly higher, with FTSE 100 up 0.37% while Germany’s DAX 30 rose 0.63% and France’s CAC 40 closed d 0.81% higher. The Shanghai Composite index ended 0.4% higher while Hong Kong’s Hang Seng index and Japan’s Nikkei 225 both closed 1.48% and 1.81% higher, respectively.
Bitcoin closed just under $60,000 a token after a report that the U.S. Securities and Exchange Commission will allow bitcoin futures exchange-traded funds.
West Texas Intermediate crude oil rose ninety-seven cents to $82.28 a barrel while gold slid $29.50 to $1,767.20 an ounce.
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