After 'Inflation Shock' in 2021 Prepare for 2022 'Rates Shock' - BofA

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Dow posts record closing high, stocks gain for 3rd week; dollar dips

October 21, 2021 11:14 PM EDT

By Caroline Valetkevitch

NEW YORK (Reuters) - The Dow Jones industrial average registered a record closing high on Friday and major equity indexes posted a third straight week of gains while the U.S. dollar slipped.

On the day, MSCI's broadest gauge of global shares was flat, and the S&P 500 and Nasdaq ended lower.

Stocks came under pressure after Federal Reserve Chair Jerome Powell said the U.S. central bank was "on track" to begin reducing its purchases of assets.

Intel's stock fell 11.7% and was among the biggest drags on the S&P 500. Late... More