Wall Street declines as ad tech, social media stocks weigh

Published by
Reuters

By Echo Wang (Reuters) – Major U.S. indexes dipped on Friday as shares in social media and ad tech firms decline following weak earnings from Twitter and Snap, offsetting gains from card issuer American Express following an upbeat forecast. Still, the S&P 500 and the Dow are on track to end the week with their biggest gains in nearly a month, with growth stocks doing most of the heavy lifting as markets cheer quarterly reports from Tesla Inc and Netflix Inc. Snap Inc’s shares tumbled nearly 40%, after the Snapchat owner posted its weakest-ever quarterly sales growth as a public company, while …

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