Stocks – Wall Street Opens Mixed After Amazon Earnings Miss 

Investing.com – Wall Street was mixed on Friday, as disappointing earnings from Amazon (NASDAQ:) offset positive results from other companies.

The was up 62 points or 0.2% by 9:47 AM ET (13:47 GMT), while the was down 2 points or 0.1% and the slipped 20 points or 0.3%.

Shares of Amazon.com (NASDAQ:) slumped 3.7% after the e-commerce giant forecast operating income in the current holiday quarter will be well below the consensus due to competition.

Anheuser Busch Inbev (NYSE:) slumped 8.5% after the brewer cut its full-year forecasts due to declining sales, while Boeing (NYSE:) dipped 0.9% after it was blamed in an Indonesian report for the fatal crash of a Lion Air flight involving the company’s 737 MAX jet.

Still, most companies have posted positive results this quarter, with 80% of the 168 companies that have reported earnings so far beating profit expectations, according to Refinitiv data.

“We’ve had some misses … mostly due to trade war concerns, but overall, it looks like we’re headed for a fairly good earnings season,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.

Intel (NASDAQ:) was one of the stocks to do better than expected. Its stock jumped 6% after it raised its full-year revenue outlook on the back of a strong third quarter, while Visa (NYSE:) gained 1% on a jump in revenue.

In commodities, the , which measures the greenback against a basket of six major currencies, was up 0.2% to 97.547 and gained 0.8% to $1,516.95 a troy ounce. were down 0.3% to $56.08 a barrel.

-Reuters contributed to this report

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