NEW YORK (
TheStreet) -- After ending its winning streak on Thursday, the broader market is trying to end the week on a positive note.
TheStreet's Brittany Umar and Max Wolff, chief economist and strategist at ZT Wealth, break down Friday's trading so far.
S&P 500 and
Dow Jones Industrial Average are trying to stay positive, but the
Nasdaq is lagging behind and is in the red.
(INTC - Get Report) is rallying sharply higher on a positive research note from Jeffries, Umar said.
However, the big news has been the recent IPO filing from
Wolff said that the IPO disaster and ensuing selloff in
(FB - Get Report)
dampened enthusiasm for similar companies.
But now that Facebook has had a strong rally and is trading for more than its IPO price, the mood has become much more positive for other social media stocks and for potential social media IPOs.
Although other stocks, such as
(GRPN - Get Report)
(ZNGA - Get Report)
also suffered following their IPOs, Wolff expects Twitter to do well.
"I think Twitter will do quite well, in part, because Twitter already conquered mobile and that was the big challenge that tripped up some of the other names," he concluded.
-- Written by Bret Kenwell in Petoskey, Mich.
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