DWAC, Snap, Intel, Mattel: What to Watch in the Stock Market Today

Wall Street indexes are wavering after the S&P 500 reached its 55th record close of the year. Here’s what we’re watching in Friday’s trading session.

  • The SPAC that agreed to merge with Donald Trump’s social-media company, Digital World Acquisition , was extending its surge, after having more than quadrupled in value during Thursday’s session. Its class A shares were up by more than 200%.
  • Snap shares plummeted after the social-media company said it expects growth to slow in the current quarter because of recent changes to Apple ‘s App Store privacy rules.
  • Other big names in social media including Facebook and Twitter were also dragged down.
  • Intel shares dropped after the semiconductor company posted third-quarter earnings, as component shortages weighed on computer shipments and China’s crackdown on gaming hurt server-chip sales.
  • American Express topped earnings and revenue estimates as it benefited from an acceleration in spending and saw further recovery in the travel and entertainment categories.
  • Honeywell  lowered its sales guidance for the year due to supply-chain constraints and the ongoing effects of what it described as a “macro-challenged environment.”
  • Zoom Video Communications shares got a ratings upgrade from JPMorgan.
  • Mattel raised its full-year sales outlook after posting better than expected third-quarter results, with strong sales continuing for key brands like Barbie and Hot Wheels.
  • Whirlpool ‘s chief executive said shortages of dishwashers and refrigerators are likely to stretch well into next year, as supply-chain problems constrain production and consumer demand remains strong.
Chart of the Day
  • A key measure of investors’ inflation expectations has climbed in recent weeks, adding fuel to concerns about lasting pressures on consumer prices.

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