Stocks struggle for gains as results from Exxon and Intel offset Amazon

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.

President Donald Trump called the report “amazing” and “very sustainable.” Economists, on the other hand, said this pace of expansion wasn’t likely to last.

Separately, consumer sentiment fell to a six-month low in July, the University of Michigan said, though it was slightly ahead of expectations.

Read: Wall Street investors can’t remember the last time a GDP report was so crucial

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

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