- Amazon shares fall sharply on Friday to weigh on technology shares.
- Upbeat earnings figures from Intel help the sector limit losses.
- Financial shares rise in early trade to help Dow Jones stay in the green.
Wall Street’s main indexes started the last day of the week in a relatively calm manner as investors continue to assess the third-quarter earnings figures. As of writing, the Dow Jones Industrial Average was up 0.2% on the day while the S&P 500 and the Nasdaq Composite were erasing 0.15% and 0.22%, respectively.
After it cut its revenue forecasts for the holiday season citing “fierce competition,” e-commerce giant Amazon’s shares lost more than 3% at the opening bell on Friday and weighed on the Communication Services Index. On the other hand, chipmakers Intel and Nvidia’s upbeat earnings figures help the Technology Index float in the positive territory in the early trade.
Among the 11 major S&P 500 sectors, the Financials Index is 0.3% to lead the winners. On the other hand, the defensive Real Estate Index is down 1.3% as the worst performer of the day so far.
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