The Dow Jones Industrial Average gained 0.2% to 35,677.02, exceeding its Aug. 15 high. Some 65% of stocks in the S&P 500 closed higher, led mainly by financial and health care companies, but losses in communication and technology companies held the S&P 500 down. Also Friday, Federal Reserve Chair Jerome Powell said industrial supply chain problems have gotten worse and will likely keep inflation elevated well into next year. Investors are looking for clues as to how companies are navigating supply chain problems and rising costs for materials, transportation and other goods and services. Many companies have warned higher costs will hurt operations.

Source: Daily Sun October 25, 2021 05:21 UTC