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* Amazon falls as sales expansion slows
* Pinterest sinks into the fact that the expansion of U. S. usersU. S. It’s stagnating
* U. S. spending U. S. Increases in June, inflation rises
* Indices disabled: Dow 0. 39%, S
By Sagarika Jaisinghani
July 30 (Reuters) – Wall Street’s primary indexes fell on Friday after a dissembling quarterly earnings report from Amazon. com, while knowledge of a sharp rise in customer spending in June boosted optimism about a stable economic rebound.
Amazon. com Inc fell 6. 9%, following its worst day since March 2020, after the company said sales expansion would slow in the coming quarters as consumers ventured further away from home.
Shares of other tech giants, including Apple Inc, Alphabet Inc, parent of Google, and Facebook Inc, which benefited last year from other people staying home due to COVID-19 restrictions, fell between 0. 6% and 1. 8%.
The S heritage index
“Overall, expectations were pretty high for corporate earnings and the explanation for why we’re seeing some stocks fall despite the positive effects is that other people expect exponential growth, which to be fair is too high to expect,” Randy Frederick said. , managing director of trading and derivatives at Charles Schwab.
Before the 12h06. ET, the Dow Jones Industrial Average was down 0. 39%, the S
Hopes for a stable post-pandemic rebound in the U. S. economyU. S. They put the core index on track for its sixth straight monthly gain, but the immediate spread of the Delta variant and emerging inflation kept sentiment under control.
Friday’s knowledge showed that U. S. customers’ spending was not enough. U. S. Rising more than expected in June, annual inflation accelerating further above the Federal Reserve’s 2% target.
Economy-sensitive stocks, adding industrial, energy and monetary stocks, fell, however, during the week, so-called stocks were expected to outperform growth-related stocks such as technology.
“We are positive about cyclical equities and spending,” said Michael James, managing director of equity operations at Wedbush Securities in Los Angeles.
“Cyclical sectors are likely to continue to grow and customer spending will increase. Restaurants and specialty retail are two spaces where we have a pretty positive scenario. “
Pampers’, Procter
Pinterest Inc, however, plunged 19. 2% to its lowest point in more than two months after saying the expansion of U. S. users was expanding. U. S. It slowed down as other people who used the platform for DIY crafting and projects at the height of the pandemic came out more.
Caterpillar Inc reversed the trend to fall 3. 8%. The company recorded an accumulation of adjusted profits in the quarter of this time thanks to the recovery in global economic activity.
Overall, the effects of the current quarter come from about a portion of the corporations in the
The drop in issuance outnumbered the 1. 48-1 lead on the NYSE and the 1. 43-1 lead on the Nasdaq.
The S-index
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