US stocks slip but are still on track for 6th monthly gain

By DAMIAN J. TROISE AP Business Writer

Stocks fell in morning trading on Wall Street Friday but are still on track to close out July with their sixth straight monthly gain.

The S&P 500 fell 0.4% in the early going, putting it back in the red for the week, and the tech-heavy Nasdaq fell 0.6%. Amazon weighed down major indexes following a weak sales report and forecast.

The internet giant which has prospered during the pandemic, slumped 7.8% after reporting sales that fell short of analysts' forecasts.

It also issued a weak outlook for the current quarter. The yield on the 10-year Treasury fell to 1.24%.

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