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

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© Reuters. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 21, 2022. REUTERS/Brendan McDermid

(Reuters) – The and the Nasdaq opened lower on Friday as social media and ad tech firms led declines after dismal quarterly revenues from Twitter (NYSE:) and Snap (NYSE:), while an upbeat forecast from American Express (NYSE:) boosted the Dow.

The rose 131.02 points, or 0.41%, at the open to 32,167.92. The S&P 500 opened lower by 0.52 points, or 0.01%, at 3,998.43, while the dropped 34.24 points, or 0.28%, to 12,025.37 at the opening bell.