US: S&P 500, Nasdaq open lower as social media stocks weigh

THE S&P 500 and the Nasdaq opened lower on Friday (Jul 22) as social media and ad tech firms led declines after dismal quarterly revenues from Twitter and Snap, while an upbeat forecast from American Express boosted the Dow.

The Dow Jones Industrial Average rose 131.02 points, or 0.41 per cent, at the open to 32,167.92.

The S&P 500 opened lower by 0.52 points, or 0.01 per cent, at 3,998.43, while the Nasdaq Composite dropped 34.24 points, or 0.28 per cent, to 12,025.37 at the opening bell. REUTERS