US stocks down on weak tech sector earnings
The trading trend of down one day, up the next and then back down again continued Friday as falling shares of major tech companies offset the effect of a strong third-quarter GDP report. The selling is led by large cap tech companies, including Amazon and Google both of which posted mixed quarterly results.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 44722.06 | -138.25 | -0.31% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19060.475899 | -115.10 | -0.60% |
| SP500 | S&P 500 | 5998.74 | -22.89 | -0.38% |
| AMZN | AMAZON.COM INC. | 205.74 | -2.12 | -1.02% |
| GOOGL | ALPHABET INC. | 169.23 | +0.11 | +0.07% |
Earnings overshadowed a strong read on the U.S. economy which grew a robust 3.5 percent from July through September as consumer spending and government spending extended the nation's economic growth, the Bureau of Economic Analysis said Friday. The third-quarter report follows the 4.2 percent growth in the second quarter and is the last major window into the U.S. economy before the midterm elections.
Friday continues what has been a volatile week. On Thursday, stocks rebounded, with the Dow rising more than 400 points, as investors celebrated a series of strong results from tech giants including Microsoft and Twitter, as well as auto makers Ford and Tesla.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP. | 422.99 | -5.00 | -1.17% |
| TWTR | NO DATA AVAILABLE | - | - | - |
| F | FORD MOTOR CO. | 11.10 | 0.00 | 0.00% |
| TSLA | TESLA INC. | 332.89 | -5.34 | -1.58% |