November 15, 2021

Stock Traders Shrug Off Early Jitters; Bonds Climb: Markets Wrap

(Bloomberg) — The stock market wiped out its earlier losses, led by an advance in so-called defensive companies. Treasuries climbed.

Health-care and utility shares led gains in the S&P 500, offsetting declines in commodity and retail stocks. Apple Inc. rose to a record. Equities fell in the first few hours of trading after softer economic data and the spread of the coronavirus delta variant sparked concern that the global recovery is faltering. Tesla Inc. sank as the U.S. opened an investigation on the electric-vehicle firm’s Autopilot system.

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Traders awaited signals from the Federal Reserve, with a town hall by Chair Jerome Powell Tuesday potentially acting as a precursor to the Jackson Hole symposium in late August. The market has viewed the event as a venue for the Fed to lay out the timing and contours of…

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