In Powell We Trust?
Yun Li and Thomas Franck of CNBC report the S&P 500 closes Friday lower as Amazon shares slide, but notches sixth straight positive month: U.S. stocks fell on Friday amid a slide in Amazon shares, but the S&P 500 notched its sixth straight positive month. The broad equity benchmark fell 0.5% to 4,395.26, dragged down by the consumer discretionary and energy sectors. The tech-heavy Nasdaq Composite slipped 0.7% to 14,672.68. The Dow Jones Industrial Average dipped 149.06 points, or 0.4%, to 34,935.47. Amazon sank nearly 7.6% after it reported its first quarterly revenue miss in three years and gave weaker guidance. Pinterest fell even further, down 18.2%, after saying it lost monthly users during the three months ended June 30. The major averages managed to wrap up a solid month, although volatility has picked up amid concerns about the economic recovery in the face of the spreading delta variant. The Nasdaq and Dow added about 1.2% and 1.3% respectively in July, whil