Dow, S&P 500 and Nasdaq extend streak of weekly gains

All three major U.S. stock indexes ended at all-time highs this Friday, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite each notching a fifth straight week of gains after a stronger-than-expected October jobs report.

After logging seven new highs over the last seven trading sessions and the most record highs in a year since 2013, the S&P 500 could just be on track to finish 2021 strong. On top of the solid macroeconomic backdrop, favourable seasonality might be another reason why the positive momentum could carry through to the end of the year. Historically, the two-month stretch between November and December has been rewarding for investors, with above-average equity-market gains and the highest chances of positive returns.

The Fed also announced it would begin winding down its monthly bond-buying programme this month. The announcement had been widely anticipated, and stock markets reacted positively despite earlier concerns that the pullback in crisis-era stimulus could derail the recent equities rally.

In other news, Kroger – aka America’s largest grocery chain – is opening automated warehouses across the country. Inside these giant warehouses, robots will help retrieve totes of items such as bananas, milk, meat and more to speed up fulfillment of customers’ grocery orders.