EDITOR'S NOTE
The major averages stumbled on Friday, capping a busy week of Big Tech earnings.
The S&P 500 fell 0.7%, landing at 4,181.17. Meanwhile, the tech-heavy Nasdaq slumped more than 0.8%. Finally, the Dow Jones Industrial Average dropped more than 185 points, closing at 33,874.85.
Tech giants Apple, Facebook, Alphabet and Amazon beat analysts’ expectations as they released quarterly results this week.
Nonetheless, tech names were among some of the notable losers today.
Twitter, which missed on user growth expectations, fell more than 15% today. Apple slid 1.5% – and was down more than 2% for the week – despite its rosy earnings report. 
Investors also turned up their noses at Amazon, which ended the day down 0.11%. However, it may be an opportunity to do some bargain shopping, according to CNBC’s Jim Cramer on Friday. “They will be down at one point and you can go buy them. And you should buy them,” he said.
Heading into May, investors will have their eyes on April’s employment report – which some economists believe could show that a million jobs were added.
The data, which will be released on May 7, will be an indicator as to whether the economy is making the progress the Federal Reserve needs to see before discussing next steps for tapering its support.
“Next week is all about the jobs number, because as part of the Fed’s path to ‘substantial progress’ on their two roles, we’ll see how much further along that path they are next Friday” said Peter Boockvar, chief investment officer at Bleakley Advisory Group. TOP NEWS
TOP VIDEO
CNBC PRO
SPECIAL REPORTS
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
