begin quote from:https://www.cnn.com/business/live-news/stock-market-news-070721/index.html
US stocks rebound
By CNN Business
S&P 500 and Nasdaq Composite hit all-time highs
From CNN Business' Anneken Tappe
Wall Street finished in the green on Wednesday, with the S&P 500 and the Nasdaq Composite both ending at record highs. It’s the third straight all-time high for the Nasdaq. The S&P took a breather Tuesday, but had notched seven consecutive records in the sessions before that.
The S&P gained 0.3%, while the Nasdaq finished flat albeit ever so slightly higher.
The Dow, still short of a record, closed up 0.3%, or 104 points.
Minutes show a Fed that's 'talking about talking about' tapering
From CNN Business' Anneken Tappe
The minutes of the Federal Reserve's June meeting, released today, put in writing what central bank Chairman Jerome Powell told reporters in the press conference last month: it was indeed the Fed's "talking about talking about" tapering meeting.
The minutes said that central bankers "judged that, as a matter of prudent planning, it was important to be well positioned to reduce the pace of asset purchases, if appropriate, in response to unexpected economic developments, including faster-than-anticipated progress toward the Committee’s goals..."
In other words, it's time to tighten the belt.
"Various" members of the Fed's policy committee also suggested tapering purchases of mortgage-backed securities more quickly, or earlier, compared with the purchases of Treasury securities, given the high valuations in the housing market.
Apple nears record high for first time since January
From CNN Business' Paul R. La Monica
How do you like them Apples?
The iPhone maker's stock is flirting with a new all-time high for the first time since late January. Apple (AAPL) shares were up about 2% Wednesday, rising along with the rest of the tech sector. Apple is on track to post its seventh straight day of gains.
Apple is now worth about $2.4 trillion. But Tim Cook's company continues to lag the rally in most other top tech stocks this year. Shares of Apple are up about 9% this year. The Nasdaq is up about 14%.
And all but one of the other so-called FAANG stocks has turned in a bigger gain in 2021. Facebook (FB) has soared nearly 30%. Amazon (AMZN) is up about 15%. Google owner Alphabet (GOOGL) has skyrocketed about 45%. Netflix (NFLX) is the only loser, dipping about 1% year-to-date.
There was no concrete news to explain Apple's recent surge. But tech stocks have been rallying lately as long-term bond yields fall. Apple rival Samsung also issued a healthy profit outlook Wednesday.
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