U.S. stocks mostly fell early Friday, with major indexes losing an early gain as GDP data came in a hair below expectations and as investors wrestled with disappointing results from a number of market bellwethers including Exxon and Intel.
What are the main benchmarks doing?
The Dow Jones Industrial Average DJIA, -0.50% rose 12 points, or less than 0.1%, to 25,537. The S&P 500 SPX, -0.89% shed 6 points to 2,831, a decline of 0.2%, relinquishing modest opening gains. The Nasdaq Composite Index COMP, -1.73% fell 46.5 points, or 0.6%, to 7,806.
For the week, the Dow was looking at a gain of 1.9%, the S&P 500 was up 1.1%, and the Nasdaq was down 0.2%. Both the Dow and the S&P are on track for their fourth straight positive week, their longest such streak since January.
What’s driving markets?
Consumers and government spending powered the economy to a 4.1% rate of gross domestic product growth in the second quarter, the fastest pace of growth in almost four years, although it was slightly below the 4.2% rate that analysts had been expecting.
Separately, consumer sentiment fell to a six-month low in July, the University of Michigan said, though it was slightly ahead of expectations.
In a bright spot for company news, Amazon.comInc. AMZN, +0.19% gained 1.6% after the e-commerce company posted not only its biggest quarterly profit in history, but earnings that were double what was expected. The company extended its strong year-to-date rally and hit new records. It is up nearly 60% thus far in 2018, emerging as the single-biggest