Stock end lower but still mark 6th straight monthly gain
Source: AP
By DAMIAN J. TROISE and STAN CHOE
NEW YORK (AP) — Stocks ended lower on Wall Street, giving up their gains for the week. The S&P 500 still managed to end July higher, marking six monthly gains in a row, the longest such streak since 2018. The benchmark index fell 0.5% Friday, with a big drag coming from Amazon. The online retail giant slumped 7.6% after it reported sales growth that was big but not as big as Wall Street expected. Its sales forecast also disappointed investors. The Dow Jones Industrial Average lost 0.4% and the Nasdaq fell 0.7%. The yield on the 10-year Treasury note fell to 1.23%.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
NEW YORK (AP) — U.S. stock indexes slipped on Friday, with much of the downward weight coming from a stumble for high-flying Amazon.
The S&P 500 was down 0.4%, as of 3:07 p.m. Eastern time. But it’s still on pace to wrap up its sixth straight month of gains, its longest such streak since 2018, and it remains within 0.5% of its record high set on Monday.
The Dow Jones Industrial Average was down 108 points, or 0.3%, at 34,975, and the Nasdaq composite was 0.6% lower.
FILE - In this Nov. 23, 2020 file photo, a street sign is displayed at the New York Stock Exchange in New York. Stocks are opening lower on Wall Street Friday, July 30, 2021, putting the S&P 500 back in the red for the week. (AP Photo/Seth Wenig, File)
Read more: https://apnews.com/article/business-health-asia-coronavirus-pandemic-financial-markets-64f2dcec85211ce4d71dba02937a022a
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