Dow Jones Gains As Pelosi Hints At Spending Bill Changes; Tesla CEO Elon Musk Touts Chips

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The Dow Jones Industrial Average inched higher amid broad weakness. House Speaker Nancy Pelosi hinted at changes as she moved to push ahead with mooted spending bills. Snap (SNAP) passed a buy point even as growth stocks struggled. Tesla (TSLA) got a lift as CEO Elon Musk made bullish noises on chips. Nike (NKE) was the biggest blue chip laggard amid supply chain woes. This had a knock-on effect on Deckers Outdoor (DECK), causing it to flash multiple sell signals. Bitcoin plunged as China vowed a crackdown. X Indexes had tried to rally even as the Evergrande Group crisis deepened, and they remained off session lows. Evergrande, China's biggest property developer, missed a Thursday deadline on an $83.5 million bond payment. It now has a 30-day grace period on this payment to global investors before a default can be called. Pelosi Hints At Spending Bill Changes Pelosi said Friday she is looking to pass both the infrastructure bill and the controversial Build Back Better
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