Global markets were lower on Friday with Wall Street’s major indices falling as weaker than expected earnings reports from major technology companies led to a big drop for the tech sector.
Facebook shares continued to fall post their large drop in the previous session, while shares in Twitter also plummeted on the back of their quarterly result, hitting sentiment across tech stocks which have been the market leaders for some time now. Amazon shares were the exception, which we discuss below.
For the week ahead, local earnings season across Australia & NZ kicks off this week, with the likes of mining giant Rio Tinto set to release its profit figure mid-week. Also in focus this week will be the US Federal Reserve, with the latest interest rate decision to be made on Thursday morning (AU/NZ time).
Stock in Focus: Amazon (AMZN:Nasdaq)
While most of the US tech sector suffered heavy losses on Friday, shares in Amazon managed to reman in positive territ...
