Equity markets gained globally on Tuesday, as upbeat corporate earnings continue to buoy Wall Street stocks, though investor concerns lingered over supply chain problems sparked by the coronavirus pandemic. Facebook kicked off the earnings season for technology giants by reporting a 17% jump in its third quarter profit on Monday. Alphabet Inc and Microsoft are expected to report similarly upbeat results later on Tuesday. The Dow Jones Industrial Average and the S&P 500 were trading higher at noon, a day after the S&P 500 and the Nasdaq reached new record highs. “Even though this has been a good earnings season in aggregate, we are starting to see more companies with supply backlogs, hiring difficulties, and rising input prices that are eating into profits.”
Published in The Express Tribune, October 27th, 2021.
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