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. APs 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 its 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
brooklynite
(94,502 posts)"ponzi scheme"
"only for the rich"
"making money off the backs of the workers"
jmbar2
(4,874 posts)Markets move up like an escalator, and down like an elevator. If you are a fast, short-term options trader, pullbacks are very profitable.
brooklynite
(94,502 posts)We have a structured bi-weekly investment strategy, regardless of whether the market is "up" or "down". Seems to work well.
jmbar2
(4,874 posts)Dollar-cost average purchases once a week. Sometimes paid for by the daytrades.