TELETRADER News
10/27/2022, 10:00 PM (Source: TeleTrader)
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US mixed at close, tech sector spirals down

Major stock markets in the United States closed mixed, as data reports and earnings pulled the indexes in different directions. The technology sector continued to deteriorate after Meta posted dissatisfying quarterly results. Another batch of corporate earnings is expected to drop after the market close, with the most anticipated reports coming from Amazon and Apple.

On the other hand, the latest data on the US GDP triggered some positive sentiment among traders, as the country’s economy saw a growth of 2.6% in the third quarter, with US President Joe Biden commenting that such a figure attests to it recovering.

The Dow Jones added 0.61% or 194 points at the closing bell, as Caterpillar jumped 7.71%. At the same time, S&P 500 fell 0.61%, while the Nasdaq 100 nosedived 1.88% or 214 points at the close. Meta was the worst performer on both indexes, tumbling 24.56%. The euro lost 1.15% against the dollar at 3:59 pm ET, selling for 0.99710.

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