Wall Street closed lower on Friday, as the Standard & Poor’s 500 and Nasdaq indices were affected by losses in Apple, Alphabet and other technology-related companies despite strong quarterly earnings reports..
A day after the S&P closed the 500 at a record high, shares of Apple and Alphabet, which owns Google, and Facebook gave up their gains in the wake of upbeat quarterly reports this week..
Amazon.com shares were little changed after it announced record profits late Thursday and indicated that consumers will continue to spend in a growing US economy..
Twitter shares plunged more than 15% after it provided tepid second-quarter earnings forecasts, saying user base growth could slow as the boost it experienced during the pandemic dwindles.
The Dow Jones Industrial Average ended the trading session down 0.53% to 33879.00 points, while the benchmark S&P 500 index fell 0.72% to close at 4,181.17 points..
The Nasdaq Composite Index closed down 0.85% to 13,962.68 points.
The S&P 500 ended the week, up 0.03%, while the Dow Jones and Nasdaq fell 0.48% and 0.39%, respectively..
The three indexes ended the month in gains, with the S&P up 5.24%, the Dow Jones 2.72% and the Nasdaq 5.40%.