Business

Another Up Day For The Market As Washington Moves Toward Debt Deal

by The Chicago Times Business Staff

October 7, 2021

NEW YORK — The S&P 500 finished higher for the second day in a row on Wednesday, as technology stocks soared and investors digested bullish jobs data and rising 10-year Treasury yields, not to mention progress on the debt ceiling battle in Washington.

The Dow Jones Industrial Average closed 102.37 points higher to end at 34,416.99.  The S&P 500 rose 17.83 points to close at 4,363.55. The Nasdaq gained 68.08 points to finish at 14,501.91.

Higher crude oil and natural gas prices have recently boosted energy equities as shortages disturb businesses in Europe and China.  However, natural-gas futures NG00, -0.05 percent plummeted 10% on Wednesday after Russian President Vladimir Putin suggested his country would increase fuel supplies to alleviate European shortages, only a day after prices reached their highest level since late 2008.  Oil futures in the United States have also retreated somewhat after reaching their highest closing in roughly seven years.

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