Wall Street held firm, Friday, in front of disappointing data, after the chip maker Intel warned of falling profit margins. Snap Inc’s stock led the losses among social media companies, after it was reported that digital ads had been affected by Apple’s privacy changes.
The Dow Jones index rose 155 points, or 0.42%, to open at 35767.72 points, while the Standard & Poor’s index tried not to fall into the trap of falling after the chip manufacturer Intel warned of low profit margins, as it rose marginally 0.3%, adding 1.3 points to 4550.65 points, while it fell Nasdaq index 0.41%, losing 62 points to 15,152.29 points.
On Thursday, the Dow Jones index came under pressure after IBM shares fell sharply due to the release of a disappointing quarterly results report, but the Nasdaq and Standard & Poor’s 500 indexes made gains and touched a record high with the help of blue-chip stocks such as Tesla.
The Standard & Poor’s Index rose for the seventh consecutive session, and among its eleven major industrial sectors, the luxury goods companies sector was the largest gainer in percentage terms during the session, while the energy sector shares were in the midst of a loss after the decline in crude oil futures contracts due to demand concerns.
The Standard & Poor’s 500 rose by 13.32 points, or 0.29 percent, to record 4,550.83 points, while the Nasdaq Composite Index rose 93.82 points, or 0.62 percent, to 15,215.50 points. As for the Dow Jones Industrial Average, it fell 7.38 points, or 0.02 percent, to 35,601.96 points.
Tesla shares gave the Nasdaq index the biggest boost of the session, as investors digested the impact of an increase in the electric car maker’s revenue despite supply chain warnings. (agencies)