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Fintech Zoom: US stocks rise to new records despite weak jobs report

Yuuma Nakamura  | October 22 , 2021

The Dow gained about 230 points Friday (October 22). One possible reason for the rally is that investors may be betting that the Federal Reserve will not pull back on its easy money policies that have propped up financial markets anytime soon — something traders started to worry about after Treasury Secretary and former Fed Chair Janet Yellen recently suggested that rates may soon need to head higher.

“The Fed is going to have to continue to be in a position to help support the economy,” Mace McCain, president and chief investment officer at Frost Investment Advisors.

He added that anything that keeps the Fed on the sidelines with regards to future rate hikes is good for tech stocks, which have benefited from low interest rates.

Excerpted from Fintech Zoom on October 22, 2021. To read the full article, click here.

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