A mixed performance for US equity markets to close out the week, leaving all three benchmark indices nursing weekly losses as uncertainty over the timeline of the coronavirus relief legislation continued to weigh on sentiment - Dow slipped -28-points or -0.10% . The broader S&P500 rose +0.34%, with Communication Services (up +1.08%) leading nine of the eleven primary sectors higher. Energy (down -0.55%) and Information Technology (-0.12%) were the only primary sectors to close lower. Intel Corp dropped -10.58% (logging the steepest percentage decline in the index) after the chip maker posted a larger-than-expected decline in third quarter revenue after the closing bell of Thursday’s (22 October) session. The Nasdaq added +0.37%. The chief executives of Alphabet Inc’s (%) Google, Facebook Inc (+2.39%) and Twitter Inc (+0.31%) will testify in front of a U.S. Senate Commerce subcommittee hearing titled, “Does Section 230’s Sweeping Immunity Enable Big Tech Bad Behaviour?” on Wednesday night AEST (28 October). The focus will be on how tech’s largest companies decide what content users can post on their platforms.
A mixed performance for US equity markets to close out the week, leaving all three benchmark indices nursing weekly losses as uncertainty over the timeline of the coronavirus relief legislation continued to weigh on sentiment - Dow slipped -28-points or -0.10% . The broader S&P500 rose +0.34%, with Communication Services (up +1.08%) leading nine of the eleven primary sectors higher. Energy (down -0.55%) and Information Technology (-0.12%) were the only primary sectors to close lower. Intel Corp dropped -10.58% (logging the steepest percentage decline in the index) after the chip maker posted a larger-than-expected decline in third quarter revenue after the closing bell of Thursday’s (22 October) session. The Nasdaq added +0.37%. The chief executives of Alphabet Inc’s (%) Google, Facebook Inc (+2.39%) and Twitter Inc (+0.31%) will testify in front of a U.S. Senate Commerce subcommittee hearing titled, “Does Section 230’s Sweeping Immunity Enable Big Tech Bad Behaviour?” on Wednesday night AEST (28 October). The focus will be on how tech’s largest companies decide what content users can post on their platforms.
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