10/21/2022, 10:01 PM (Source: TeleTrader)
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US stocks end best week since June, Dow closes 750 pts higher

Markets on Wall Street closed Friday in the green, with the Dow Jones rising more than 740 points. The week also closed positively as the best one since June amid more corporate earnings and updates on the Fed's possible decision.

Despite fears in the market over a possible recession, an earlier report from the Wall Street Journal stated that some Fed officials are concerned about overtightening with considerable rate hikes. Consequently, most of the Treasury yields fell from their highs, with the 10-year Treasury note flat at 4.221% as of 3:56 pm ET and the two-year note yield losing 13 basis points to 4.474% a minute later.

At the close, the Dow Jones gained 748 points or 2.47%, with Caterpillar rising 6.04%. The Nasdaq 100 added 2.39%, and Moderna was leading the gains, improving by 8.40%. The S&P 500 rose 2.37%, as Schlumberger went up by 10.51%. Finally, the euro improved by 0.78% against the dollar at 3:57 pm ET, selling for $0.98631.

Baha Breaking News (BBN) / JG