Wall Street sinks as Amazon, Alphabet earnings spark growth concerns

Futures Slump on Global Riskoff Sentiment; Caterpillar Weighs

Stocks Slammed! Dow Plunges More Than 600 Points

For the week, these three major indexes dropped 2.97%, 4.03% and 3.78%, respectively.

US bond prices edged lower.

On today the stock market looked the way it has looked for most of this year: high-tech and consumer-focused companies lead the way while steadier, defensive stocks that pay big dividends weren't doing much, or lost ground. In Asia, Japan's benchmark Nikkei 225 lost 0.4 percent, while South Korea's Kospi dropped 1.8 percent. Both Facebook Inc and Netflix Inc dropped 2.3 percent and Apple Inc slid 1.5 percent.

The S&P 500 index fell 84 points, or 3.1 per cent, to 2,656. Hong Kong's Hang Seng sank 1.1 percent.

Disappointing quarterly results and outlooks have stoked investors' jitters over future growth in corporate profits, a key driver of the stock market. The Nasdaq composite gave up 9 points, or 0.1 percent, to 7,427. They get more insight into how the American economy is doing later in the day when the US government reports on economic growth during the third quarter.

Facebook makes it easier to see political spending activity
As the so-called migrant caravan makes its way north, national attention has shifted to the US border with Mexico once again. Trump called O'Rourke "a stone-cold phony" and a "radical, open borders left winger".

Google-parent Alphabet's revenue missed estimates, fanning concerns that regulatory scrutiny and competition would throttle its scorching pace of growth. A gain above 3.26% would have been the Nasdaq's best day since August 2015, and the index flirted with that level late in the afternoon before falling just before the close. Media and communications stocks, health care companies and banks also took heavy losses.

Amazon's shares slumped by 7.6 per cent after they gave a discouraging outlook ahead of the Christmas shopping season, the biggest drop in the company's value for four years. The Chinese yuan fell to 6.9641 against the greenback, flirting with its weakest point in almost a decade.

On Wednesday, data showed sales of new USA single-family homes fell to a near two-year low in September, the latest sign that rising mortgage rates and higher prices were hurting demand for housing.

Chipmaker Micron Technology (MU.O) lost 3.8 percent in extended trade after Western Digital (WDC.O) said it was taking steps to align its output of flash memory chips with projected weak demand.

Microsoft surpassed analysts' forecasts in the first quarter as it mined new revenue sources in online subscriptions, gaming and its LinkedIn professional networking service.

Samsung's Folding 'Galaxy X' Phone Just Got Leaked Majorly
As it turns out, Samsung may be taking a page out of Apple's book in launching a grand total of three models for the Galaxy S10 . We'll learn more about the Samsung Galaxy S10 in February 2019 during the MWC when the flagship might be officially announced.

USA stocks recovered some of their losses Friday following a steep slide in early trading, but the drop was enough to push the benchmark S&P 500 index back into the red for the year.

In New York, the futures contract for the S&P 500 gained 0.7 per cent to 2,684 while that for the Dow also rose 0.6 per cent, to 24,770, suggesting recent losses may have whetted appetites for bargains.

Before the open, the Commerce Department said the U.S. economy grew in July through September at a slightly slower pace than a blockbuster expansion earlier in the year, marking the best back-to-back quarters since 2014. Brent crude, used to price worldwide oils, declined 72 cents to $75.45 a barrel.

The dollar climbed to 112.59 yen from 112.44 yen. The euro rose to $1.1408 from $1.1393.

Relief for Mourinho As United Hang On Against Everton
Juventus vice-president Pavel Nedved has played down talk of a potential reunion with Manchester United midfielder Paul Pogba . Everton can be definitely be aggrieved with the referee for having wrongly awarded United the penalty which made it 1-0.

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