Stocks slide as Amazon weighs down tech sector
Crossmark Global Investments CIO Bob Doll discusses earnings, adding ‘peak profit is still in our future.’
U.S. stock indexes fell Friday as investors digested the latest inflation data and sorted through another batch of earnings from high-profile companies.
The Dow Jones Industrial Average lost 148 points, or 0.42%, while the S&P 500 index and the Nasdaq Composite index dropped 0.54% and 0.71%, respectively. Despite the losses, all three indexes recorded gains for July with the S&P 500 booking its sixth straight monthly advance.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 34935.47 | -149.06 | -0.42% |
| SP500 | S&P 500 | 4395.26 | -23.89 | -0.54% |
| I:COMP | NASDAQ COMPOSITE INDEX | 14672.677608 | -105.59 | -0.71% |
The core personal consumption expenditures price index rose 3.5% annually in June, making for the biggest increase since July 1991. Prices were up 0.4% month over month. Both readings were below what analysts surveyed by Refintiv were expecting.
FED’S PREFERRED INFLATION
