US stock indexes end mixed as Facebook parent company slumps

Friday, October 28, 2022, Vol. 46, No. 43
The Associated Press

Stocks ended mixed on Wall Street as weakness in several tech companies offset gains in other parts of the market.

Facebook's parent company, Meta Platforms, lost another one-fourth of its value after reporting a second straight quarter of revenue decline amid falling advertising sales and stiff competition from TikTok. That followed weak reports from Google's parent company, Alphabet, and Microsoft.

The S&P 500 fell 0.6% and the Dow rose 0.6%. Meta's slump pulled the Nasdaq down 1.6%.

Markets got some encouraging economic news as the government reported the U.S. economy returned to growth last quarter, expanding 2.6%.

Treasury yields fell.