DWAC, Snap, Intel, Mattel: What you should be aware of today in the stock market

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WSJ.com: Markets

Updated October 22, 2021 10:03 a.m. ET

Wall Street indices are surging after the S&P 500 hits its 55th record high for the year. Here is what we see in Friday’s trading session.

  • The SPAC, which has agreed to merge with Donald Trump’s social media company Digital World Acquisition,

    extended its rise after more than quadrupling during Thursday’s session. Its Class A shares rose more than 200%.

  • Snap SNAP -26.59%

    Stocks plummeted after the social media company announced that growth will slow in the current quarter due to recent changes to the Apple AAPL -0.53%

    App Store’s Privacy Policy.

Snap expects growth to slow due to the new privacy rules in Apple’s App Store.


Photo:

Richard Drew / Associated Press

  • Other big names on social media including Facebook FB -5.05%

    and Twitter TWTR -4.91%

    were also pulled down.

  • Intel INTC -11.68%

    Shares fell after the semiconductor company announced third quarter results as component shortages weighed on computer shipments and China’s crackdown on games hampered server chip sales.

  • American Express AXP 5.50%

    outperformed earnings and sales estimates as it benefited from an acceleration in spending and saw further rebound in the travel and entertainment categories.

  • Honeywell HON -3.17%

    lowered its revenue forecast for the year due to supply chain constraints and the ongoing impact of what was described as a “macro-challenged environment”.

  • Zoom video communication ZM 1.02%

    Stocks received a rating upgrade from JPMorgan.

  • Mattel MAT 0.59%

    raised its full-year sales outlook after posting better-than-expected third-quarter results, with strong sales continuing for major brands like Barbie and Hot Wheels.

  • Whirlpool WHR 2.49%

    ‘s CEO said the dishwasher and refrigerator shortages are likely to drag on well into next year as supply chain issues constrain production and consumer demand remains strong.

Chart of the day
  • A key gauge of investor inflation expectations has risen in recent weeks, adding to concerns about continued pressures on consumer prices.

Write to James Willhite at james.willhite@wsj.com

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