Brendan McDermid/Reuters
- The S&P and the Nasdaq Composite lost ground Friday, pulling back from record highs.
- Apple and Amazon shares weighed on indexes after disappointing third-quarter results.
- But Wall Street's major equity gauges were on course to rise for October.
US stocks fell from record highs Friday as investors wrap up October trade with disappointing financial updates from tech behemoths Apple and Amazon.
The Nasdaq Composite and S&P 500 index pulled back from Thursday's record close, with shares of Apple and Amazon in the red. The companies late Thursday posted third-quarter sales that missed analyst expectations as they had to contend with supply-chain problems.
While stock indexes sagged, they were still in line for hefty gains for October, led by a nearly 7% rise for the Nasdaq Composite.
Here's where US indexes stood at 9:30 a.m. on Friday:
- S&P 500: 4,572.85, down 0.51%
- Dow Jones Industrial Average: 35,714.67, down 0.04%
- Nasdaq Composite: 15,339.93, down 0.70%
Investors on Friday also assessed economic data that in part showed consumer spending rose by 0.6% in September, higher than the consensus estimate of 0.5% from Econoday but slower than the 1% increase in August.
Around the markets, gold lost 0.7% at $1,789 per ounce. The 10-year yield rose to 1.606%.
Oil prices slipped. West Texas Intermediate crude eased 0.1% to $82.73 per barrel. Brent, oil's international benchmark, fell 1.3% to $83.43.
Bitcoin rose 1% to $61,173.12.
