AllMarket Update
logoArgusOctober 14, 2021

Market Update: TSM, USB, DAL, BLK

Financial Services, Technology, Industrials

Stocks rallied on Thursday morning following strong earnings reports from Bank of America, Morgan Stanley, and UnitedHealth Group, and new producer price and employment data. The Labor Department said that first-time claims for state unemployment benefits fell to 293,000 for the week ended October 9, down from 329,000 a week earlier and below the consensus forecast of 320,000. The Dow rose 1.2%, the S&P 1.3%, and the Nasdaq 1.4%. Crude oil rose to $81 per barrel, while gold traded near $1800 per ounce.

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