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The beginning of the Friday session announced that Wall Street could end the week in a good mood. Unfortunately, investors quickly overlooked weak quarterly reports from Intel and Twitter, and the liquidation of their assets weighed on the technology market, which began to bring down the overall market [19659002]. Economic growth in the United States in the second quarter, according to the preliminary reading, accelerated to 4.1 percent. Meanwhile, although the Consumer Confidence Index of the University of Michigan dropped in the final calculation for July, the discount was lower than expected by economists.
In the second half of the session, 8 of the 11 major industries included in the S & P500 index. The abatement was led by the technology companies sector. Intel's shares (especially around 9%) were particularly difficult to lose, as the rapid growth of data centers did not meet analysts' expectations.
Twitter shareholders had even more to worry about: the social networking portal was cut by more than 20%. after the company announced a lower monthly number of active users and a warning that the decline may continue after the removal of accounts on the phones.
At the end of the session, the Dow Jones IA blue chip index lost 0.30%, the S & P500 fell 0.66% while the Nasdaq fell 1.46% [19659003]
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