Stock indices off-low and continue recovery

Major averages in U.S market dropped as soon as the market open. However, there is a positive development at the current time. Dow Jones Industrial Averages down more than 500 points but recover most of the losses and currently traded down 132.41 points (-0.53%), Nasdaq composite down 66.59 points (-0.91%), S&P 500 down 20.12 points (-0.74%).

The weakness of averages in the U.S attributed to the disappointing result from major companies such as Alphabet (NASDAQ: GOOG), Amazon (NASDAQ: AMZN). Meanwhile, Microsoft (NASDAQ: MSFT), Intel (NASDAQ: INTC) fueling upside movement after earnings beat.

Notable Earnings & Corporate reports

Intel Inc (NASDAQ: INTC) reported earnings per share of $1.40 vs. $1.15 expectation. Revenue comes out at $19.16 billion vs. $18.13 billion expectation. The share prices up 3.72%

Twitter Inc (NASDAQ: TWTR) upgraded after strong earnings result on Thursday. Oppenheimer upgraded twitter from market performs to outperform. The company set the stock target price at $37.00

Amazon (NASDAQ: AMZN) slumped 7.17% after better than expected earnings but lower revenue. Eps come out at $5.75 vs. $3.14. Revenue comes out at $56.6 billion vs. analyst expectation $57.10 billion.

Alphabet (NASDAQ: GOOG) opened sharply lower below $1,050 but recovered to $1,088.5 after Thursday result. The company reported eps of $13.06 vs. $10.42. Revenue comes out at $33.7 billion vs. $34.04 billion.

Other markets

Gold up $2.10 (+0.17%) to $1,234.80, Crude oil up $0.24 (+0.36%) to $67.57. U.S dollar index down 0.16 (-0.16%) to 96.44

Asian stock market closed the week lower. Nikkei down 84.13 points (-0.40%) to 21,184.60, Shanghai Composite down 4.95 points (-0.19%) to 2,598.85, Australia ASX up 1.10 points (+0.02) to 5,665.20.

European stock market also significantly lower. DAX Germany down 0.94%, FTSE UK down 0.92%, and Euro STOXX 600 down 0.77%.