S&P 500, Nasdaq Open Lower as Social Media Stocks Weigh

By Reuters
Reuters
Reuters
July 22, 2022 Updated: July 22, 2022

The S&P 500 and the Nasdaq opened lower on Friday as social media and ad tech firms led declines after dismal quarterly revenues from Twitter and Snap, while an upbeat forecast from American Express boosted the Dow.

The Dow Jones Industrial Average rose 131.02 points, or 0.41 percent, at the open to 32,167.92. The S&P 500 opened lower by 0.52 points, or 0.01 percent, at 3,998.43, while the Nasdaq Composite dropped 34.24 points, or 0.28 percent, to 12,025.37 at the opening bell.

Reuters