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Last Updated, Oct 22, 2021, 8:44 PM
U.S. stocks end mixed as communication services sector lags
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NEW YORK, Oct. 22 (Xinhua) — U.S. stocks finished mixed on Friday amid overall weakness in the communication services sector.

The Dow Jones Industrial Average rose 73.94 points, or 0.21 percent, to 35,677.02. The S&P 500 fell 4.88 points, or 0.11 percent, to 4,544.90. The Nasdaq Composite Index decreased 125.50 points, or 0.82 percent, to 15,090.20.

Seven of the 11 primary S&P 500 sectors ended in green, with financials up 1.33 percent, leading the gainers. Communication services dipped 2.28 percent, the worst-performing group.

Social media stocks struggled, with Facebook and Twitter falling 5 percent and 4.8 percent, respectively.

Intel shares slumped more than 11 percent after the semiconductor company delivered a weaker-than-expected sales report.

By far, the reports of 84 percent of the S&P 500 companies have topped estimates, according to Refinitiv.

U.S.-listed Chinese companies traded mostly lower on Friday with seven of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.

On the economic front, Flash U.S. Composite PMI (Purchasing Managers’ Index) Output Index posted 57.3 in October, rising from 55.0 in September to signal the fastest uplift in activity for three months, as stronger growth was driven by the services sector, London-based information provider IHS Markit reported on Friday.

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