10/30/2020, 2:30 PM (Source: TeleTrader)
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US kicks off lower amid earnings, COVID-19 resurgence

Shares on Wall Street sank at the opening bell on Friday after the United States registered the largest number of coronavirus infections since the beginning of the pandemic, fueling investors' worries over the country's recovery from the crisis.

As the earnings season heats up, Apple's sales in the fourth fiscal quarter failed to meet analysts' estimates, while the number of Twitter users was below expectations despite it went up by 29% in the third quarter. Meanwhile, Chevron Corporation reported a loss per share at $0.12 in the third semester while its revenues plunged 30% year-over-year.

The Dow Jones lost 0.33% or over 80 index points with Apple dipping nearly 5% at 9:32 am ET. The Nasdaq 100 dropped by 0.73% to start the session as Seagen plunged nearly 8% at 9:31 am ET, while the S&P 500 declined 0.52% at the same time with Twitter slumping more than 15% at 9:31 am ET. The euro ticked 0.10% higher against the dollar, trading for 1.16857 at 9:28 am ET.

Breaking the News / GA