Markets closed on Friday with the S&P 500 clinching its sixth straight month in the green as Amazon, which said Thursday that sales growth would slow this quarter, had its worst day since March 2020.
While the S&P fell 0.5% to 4,395.26, the broad equity benchmark, however, notched its sixth straight positive month. The tech-heavy Nasdaq Composite dipped 0.7% to 14,672.68 while the Dow Jones Industrial Average slipped 0.4% to 34,935.47.
Shares of Amazon plummeted nearly 7.6% after the online retailer reported its first quarterly revenue miss in three years and gave weak third-quarter guidance.
Pinterest sank even further by 18.2% after the company reported its second-quarter results, which showed a drop in monthly users.
Procter & Gamble shares rose nearly 2% after the consumer giant beat analysts’ estimates for quarterly earnings and revenue. The company, however, warned that its earnings for 2022 could take a hit if prices of commodities increase.
Shares of Robinhood rebounded shy of 1% in volatile trading on Friday after closing its debut session 8% lower on Thursday.
Although the market, in recent weeks, has experienced some volatility, the major averages have struggled to close a solid month. The Dow added 1.3% while the Nasdaq climbed 1.2% in July. The S&P 500 also gained close to 2.3% over the same period, propelled by technology, healthcare, utilities, and real estate stocks.
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