- US stocks tumbled on Friday after mega-cap tech earnings results didn’t satisfy investor demand for future growth.
- Alphabet, Amazon, Apple, and Facebook reported 3rd-quarter earnings that mostly beat estimates.
- The US recorded an all-time high in daily COVID-19 cases on Thursday, with more than 90,000 cases.
- Watch major indexes update live here.
US stocks fell on Friday as investors digested the 3rd-quarter earnings report of mega-cap tech companies Facebook, Alphabet, Amazon, and Apple.
All four tech companies beat earnings estimates, but on Alphabet traded higher in Friday trades.
COVID-19 is still top of mind for investors, with the US recording an all-time high of daily cases on Thursday with more than 90,000 cases, according to data from the New York Times.
Here’s where US indexes stood shortly after the 9:30 a.m. ET open on Friday:
- S&P 500:3,290.82, down 0.6%
- Dow Jones industrial average: 26,542.55, down 0.4% (119 points)
- Nasdaq composite:11,049.88, down 1.2%
Steven Pesavento quit his 9-to-5 career to pursue real-estate investing full time. Here’s how he went from a no-experience tech-head to having flipped over 200 properties in a few years time.
Alphabet easily surpassed analyst estimates in its 3rd-quarter earnings report, and shares surged as much as 8% on the news. Twitter slumped after its 3rd-quarter earnings report reveled a significant drop in daily active users.
Ant’s highly anticipated IPO, which is slated to be the biggest ever, attracted $US3 trillion in retail bids for its soon to be listed shares.
Gold traded higher on Friday, rising as much as 1.2%, to $US1,889.81 per ounce.
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