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Fri Jul 30, 2021, 04:44 PM

Stock end lower but still mark 6th straight monthly gain

Source: AP

By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) ó 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. APís earlier story follows below.

NEW YORK (AP) ó 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 itís 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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Reply Stock end lower but still mark 6th straight monthly gain (Original post)
Omaha Steve Jul 2021 OP
brooklynite Jul 2021 #1
jmbar2 Jul 2021 #2
brooklynite Jul 2021 #3
jmbar2 Jul 2021 #4
yaesu Jul 2021 #5

Response to Omaha Steve (Original post)

Fri Jul 30, 2021, 04:46 PM

1. I've lost track; are we supposed to LIKE it when the market goes down?

"ponzi scheme"

"only for the rich"

"making money off the backs of the workers"

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Response to brooklynite (Reply #1)

Fri Jul 30, 2021, 04:50 PM

2. Daytraders like market pullbacks

Markets move up like an escalator, and down like an elevator. If you are a fast, short-term options trader, pullbacks are very profitable.

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Response to jmbar2 (Reply #2)

Fri Jul 30, 2021, 04:51 PM

3. Wouldn't know...

We have a structured bi-weekly investment strategy, regardless of whether the market is "up" or "down". Seems to work well.

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Response to brooklynite (Reply #3)

Fri Jul 30, 2021, 05:03 PM

4. I do that as well

Dollar-cost average purchases once a week. Sometimes paid for by the daytrades.

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Response to Omaha Steve (Original post)

Fri Jul 30, 2021, 06:19 PM

5. IDC. nt

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