Dow35677.02+73.94(0.21%)Nasdaq15090.19-125.50(-0.82%)SP 5004544.90-4.88(-0.11%)10-yr Note +25/321.664NYSEAdv 1624 Dec 1601 Vol 763.4 mlnNasdaqAdv 1944 Dec 2540 Vol 5.6 bln Industry Watch Strong: Financials, Energy, Consumer Staples, Real EstateWeak: Communication Services, Information Technology, Consumer Discretionary Moving the Market -- S&P 500 and Dow set all-time highs but only the Dow closes at a record high -- American Express (AXP) carries the financials sector following its earnings report-- Snap (SNAP) drops 27% after earnings, weighs on communication services sector S&P 500 ends lengthy winning streakDow +73.94 at 35677.02, Nasdaq -125.50 at 15090.19, S&P -4.88 at 4544.90 [BRIEFING.COM] The S&P 500 eked out an intraday record high on Friday, but it closed lower by 0.1% and snapped a seven-session winning streak. The Dow Jones Industrial Average (+0.2%) set intraday and closing record highs with a modest gain, while the Nasdaq Composite (-0.8%) and Russell 2000 (-0.2%) closed lower. The broader market looked like the Dow, as the Invesco S&P 500 Equal Weight ETF ($RSP 158.51, +0.45) rose 0.3% to record highs. Seven of the 11 S&P 500 sectors closed higher, led by financials (+1.3%) with some earnings help from American Express ($AXP 187.08, +9.61, +5.4%). The communication services sector (-2.3%) was the big loser in response to Snap's ($SNAP 55.14, -19.97, -26.6%) disappointing earnings report/guidance. The latter was attributed to Apple's ($AAPL 148.69, -0.79, -0.5%) privacy changes and supply chain issues affecting Snap's advertising partners. Alphabet ($GOOG 2772.50, -83.11, -2.9%), Facebook ($FB 324.61, -17.27, -5.1%), and to a lesser extent, Amazon.com ($AMZN 3335.55, -99.46, -2.9%) were pressured by Snap's commentary. These mega-cap losses largely accounted for the underperformance of the Nasdaq. Amazon also held back the consumer discretionary sector (-0.3%) while Intel ($INTC 49.46, -6.54, -11.7%) held back the information technology sector (-0.3%) following its earnings report. INTC shares dropped nearly 12.0% amid disappointing margin guidance. Honeywell ($HON 217.40, -7.12, -3.2%), V.F. Corp ($VFC 70.74, -3.33, -4.5%), and Beyond Meat ($BYND 95.80, -12.82, -11.8%), among others also highlighted supply chain challenges. Honeywell and Beyond Meat provided disappointing revenue guidance. The stock market for the most part was unfazed by the challenging economic environment. Today's action mirrored consolidation activity with investors possibly more fearful of missing out on further gains. Growth concerns were mainly manifested in Treasury market, which saw some curve-flattening activity. The 2-yr yield rose four basis points to 0.47% amid increased expectations for the Fed to hike rates sooner than expected due to inflation. The 10-yr yield decreased two basis points to 1.66%. The U.S. Dollar Index decreased 0.2% to 93.62. WTI crude futures rose 1.6%, or $1.28, to $83.77/BBL. Reviewing Friday's economic data: The preliminary IHS Markit Manufacturing PMI decreased to 59.2 in October from 60.7 in September. The preliminary IHS Markit Services PMI increased to 58.2 in October from 54.9 in September. There is no economic data scheduled for Monday. S&P 500 +21.0% YTDNasdaq Composite +17.1% YTDDow Jones Industrial Average +16.6% YTDRussell 2000 +16.0% YTDSource: (Briefing.com) Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. .