Stock Market Live October 21: S&P 500 (VOO) at All Time Highs on Strong Earnings

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Markets continue to push higher on strong earnings and upgrades.

At the moment, Dow futures are up about 23 points. Nasdaq futures are up about three, as the S&P 500 tacks on about two points. All gaining a boost after General Motors (NYSE: GM) hiked its guidance for the full year and beat earnings expectations.

In fact, GM’s EPS of $2.80 was better than the $2.31 expected. Revenue of $48.59 billion was better than the estimates of $45.27 billion.

“The updated guidance includes adjusted earnings before interest and taxes of between $12 billion and $13 billion, or $9.75 to $10.50 adjusted EPS, up from $10 billion to $12.5 billion, or $8.25 to $10 adjusted EPS, and adjusted automotive free cash flow of $10 billion to $11 billion, up from $7.5 billion to $10 billion,” said CNBC.

Apple Just Hit a Record High

Helping, Apple (NASDAQ: AAPL) just hit a record high on strong iPhone 17 sales and more upgrades.

Goldman Sachs, which has a buy rating on Apple, raised its price target to $279 from $266. “Into F2026, we expect continued strength in iPhone demand, supported by both U.S. carrier competition and continued form factor changes with the expected launch of the iPhone 18 foldable,” added the firm, as quoted by CNBC.

Wells Fargo, which has an overweight rating on Apple, raised its price target to $290 from $240.

There’s Speculation the Government Shutdown Could Soon End 

There’s growing optimism that the government shutdown could soon end. In fact, according to National Economic Council director Kevin Hassett, the shutdown “is likely to end sometime this week,” and the White House was prepared to take stronger measures to force an end to the stalemate if no deal is reached this week, as also quoted by CNBC.

As it stands now, one of the longest shutdowns in history just got longer after the US Senate failed to pass a resolution. All after a majority of Democrats continued to vote as they have. In the latest vote of 50 to 43, Senate Democrats aren’t budging.

“The shutdown, which began on 1 October, has become the longest full government shutdown in US history, and the third-longest when including partial shutdowns. If it extends past Tuesday, it will surpass the 21-day shutdown of 1995-96 to claim second place. Only the 35-day partial shutdown during Donald Trump’s first term, from December 2018 to January 2019, has lasted longer,” added The Guardian. 

Fortunately, markets have been shrugging this off for higher highs.