Wall Street capped a choppy day of trading Friday with modest gains for stocks, nudging the major indexes to more all-time highs.
The latest milestones punctuated the best month for the broader market in nearly a year, as investors balanced encouraging company earnings growth against concerns over rising inflation and supply chain disruptions.
Investors continued to focus on corporate earnings as they look for clues for how companies are managing persistent supply chain delays and rising inflation.Flexport CEO Ryan Petersen knows logistics. After touring the Port of L.A., he came up with some solutions to the container ship backlog. The Dow added 89.08 points to close at 35,819.56; the Nasdaq rose 50.27 points to 15,498.39. The Russell 2000 index of small companies slipped 0.79 point, or less than 0.1%, to 2,297.19.
The warnings from Apple and Amazon raise concerns that the economic recovery faces a bumpier road ahead through the holiday shopping season as people pay more for products and wait longer to receive them.The latest data from the Commerce Department show that consumer spending grew just 0.6% in September, a cautionary sign for an economy that remains in the grip of a pandemic and a prolonged bout of high inflation.
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