11:16 pm – Wall Street recedes at closing, Twitter plunges

Wall Street ended sharply down on Friday, weakened by disappointing corporate earnings, led by Twitter (-20.5%), and despite a sharp rise in US growth in the second quarter. According to the final results at closing, the leading index of New York, the Dow Jones Industrial Average, dropped 0.30% to 25,451.06 points. The Nasdaq, with strong technological color, lost 1.46%, to 7,737.42 points. The S & P 500 index dropped 0.66% to 2,818.82 points. Over the week, the Dow Jones and the S & P 500 still took 1.57% and 0.58%. The Nasdaq lost 1.06%. "Investors have taken more quarterly business accounts than US growth figures," said Peter Cardillo of Spartan Capital. Particularly targeted after a new salvo of results on Friday, the Twitter title collapsed by 20.5% and took away in its fall the entire technology sector. "Tech" values ​​grouped within the S & P 500 have lost 1.99%, with falls of 2.54% for Alphabet, 2.17% for Netflix and 1.66% for Apple. In the aftermath of a collapse of 19%, Facebook also lost 0.78% Friday again. "We feel an economic fragility of the technology sector, especially as it is currently under the watch of the regulator," said Jack Ablin of Cresset Wealth Advisors. In particular, Mark Zuckerberg's social network suffered, when its results were published on Thursday, the new European rules on user rights. Other results weighed Friday on the trend, like Colgate-Palmolive (-0.42%), ExxonMobil (-2.75%), Electronic Arts (-5.70%), Intel (-8 , 59%) and Amgen (-0.83%). The progress of Expedia (+ 9.53%), Starbucks (+ 1.36%) and Amazon (+ 0.51%) after their quarterly accounts were not enough to raise the market. The indexes also fell despite strong growth in US growth, which reached 4.1% in the second quarter, above 4% for the first time in four years. "It's a vigorous growth," said Chris Low of FTN Financial. However, "there seems to be a fairly widespread feeling that this growth has peaked now," said Jack Ablin of Cresset Wealth Advisors. The bond market was easing: the yield on US ten-year debt fell to 2.955%, against 2.976% Thursday at the close, and the 30-year to 3.083%, against 3.099% at the end of the previous session. (Belga)

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