The S&P 500 edged lower a day after the benchmark closed at a record.
The Dow Jones Industrials recovered from several hours in negative territory to gain 73.94 points to 35,677.02, helped by a 4% rise in shares of American Express, which reported strong quarterly earnings Thursday. The ascent on the week was 382 points, or 1.1%.
The S&P 500 lost 4.88 points on the day to 4,544.20, still strengthening 73 points, or 1.6%, on the week.
The NASDAQ Composite fell 125.5 points to 15.090.20, after poor results from two technology companies. Still, the rise on the week was 193 points, or 1.3%.
Shares of Intel retreated more than 11% following a weaker-than-expected sales report. The semiconductor company blamed an industry-wide chip shortage for its revenue miss.
Social media stocks also dropped after Snap said its advertising business declined due to Apple’s privacy changes. Snap shares sunk more than 25%. … Read more