BUSINESS US stocks trade mixed as communication services sector lags


US stocks trade mixed as communication services sector lags


23:18, October 22, 2021

NEW YORK, Oct. 22 (Xinhua) -- U.S. stocks traded mixed on Friday morning amid weakness in the communication services sector.

File photo: Xinhua

The Dow Jones Industrial Average rose 133.83 points, or 0.38 percent, to 35,736.91. The S&P 500 added 2.60 points, or 0.06 percent, to 4,552.38. The Nasdaq Composite Index decreased 60.97 points, or 0.40 percent, to 15,154.73.

Eight of the 11 primary S&P 500 sectors advanced in morning trading, with financials up 1.2 percent, leading the gainers. Communication services dipped 2.3 percent, the worst-performing group.

Intel shares slumped more than 10 percent after the semiconductor company delivered a weaker-than-expected sales report.

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

U.S. equities are on track to end the week higher. As of Thursday's close, all the three major indexes posted gains for their week-to-date returns, as third-quarter corporate earnings were mostly impressive.

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