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Stocks end up mixed on Wall Street, yet weekly rises notch

On Friday’s Wall Street, stocks closed at mixed prices after a volatile day, but key indices remained up for the third straight week. The S & P 500 fell 0.1% as some major tech companies fell sharply ahead of other sectors. The Benchmark Index set its latest record high a day ago. The Dow Jones Industrial Average rose 0.2% and the Nasdaq fell 0.8%. Intel sank after giant chipmakers’ revenues fell below expectations, and Snapchat’s parent company plummeted after saying that iPhone privacy crackdowns were hitting ad sales.

This is the latest news update. The previous story of AP is as follows.

In the Friday afternoon trading, Wall Street’s stock index fell almost as the losses of some major tech and telecommunications companies weighed on the wider market.

The S & P 500 Index fell less than 0.1% at 2:51 EST. The benchmark index hit a record high the day before. The Dow Jones Industrial Average rose 121 points (0.3%) to 35,721, centered around the record high set on August 16. Nasdaq fell 0.8%.

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Despite instability in a wide range of markets, all major indexes are on a rising track for the third straight week. Investors have focused on the latest rounds of corporate earnings over the past two weeks, with near-solid results boosting stocks overall.

More stocks were up than they were in the benchmark S & P 500 Index, but the oversized weights of some large companies held it back. Chip maker Intel fell 11.8% due to the biggest drop in the index after reporting disappointing earnings.

Snapchat’s parent company, Snap, plunged 25.1% after reporting sluggish revenues and revealing that the privacy crackdown on Apple’s iPhone was hitting ad sales earlier this year. The news has put pressure on several other social media companies. Facebook was down 5.9% and Twitter was down 4.1%. Google’s parent Alphabet fell 3.1%.

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Banks and other financial companies have made strong profits. American Express surged 6.4% after reporting strong performance in the third quarter. The company focused on increased consumer spending and travel. Bank of America rose 1.3%.

Strong earnings helped several other companies grow steadily. Mattel, the maker of Hot Wheels and Barbie, initially rose after reporting strong performance, but lost its profits and fell 0.1% in the afternoon trading.

Bond yields are kept low. Yields on 10-year government bonds fell from 1.67% to 1.65%.

Companies planning to make President Donald Trump’s new media venture a publicly traded company have skyrocketed for the second straight day. Digital World Acquisition nearly tripled in the first minute of the transaction, jumping 189.9% to $ 131.90 and profiting 106% after a temporary outage.

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After announcing that it would merge with Facebook, Twitter, and even the Trump Media & Technology Group, which aims to challenge Disney’s streaming video services, it more than quadrupled the day before, jumping from $ 9.96 to $ 45.50. Experts disagree on the company’s outlook, but some investors are betting that it’s popular.

That’s despite the unusualness of how few details a transaction announcement provides to investors.

The Asian market was mixed. China’s national media said the Evergrande Group paid delinquent bonds on Friday. As real estate developers struggle to cut debt of $ 2 trillion ($ 310 billion) and respond to tighter public borrowing regulations, there is growing concern that default may cause a financial crisis. I am.

The European market was higher.

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Stocks end up mixed on Wall Street, yet weekly rises notch

Source link Stocks end up mixed on Wall Street, yet weekly rises notch

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