Stock Market Update
12-Jul-24 10:25 ET
AMZN, GOOG give up early gains; Key takeaway from econ data
Dow +187.75
at 39941.50,
Nasdaq +128.38
at 18411.79,
S&P +32.27
at 5616.81
[BRIEFING.COM] The major indices trade at or near their best levels of the morning. The equal-weighted S&P 500 is up 0.9% near its best level of the day.
Some mega cap stocks gave back early gains while buying activity picked up under the index surface. Amazon.com (AMZN 194.02, -1.02, -0.5%) and Alphabet (GOOG 186.97, -0.35, -0.2%) are standouts in that respect after trading higher at their best levels of the day.
The preliminary Index of Consumer Sentiment for July hit 66.0 (Briefing.com consensus 67.5), down from June's final reading of 68.2. In the same period a year ago, the index stood at 71.5.
The key takeaway from the report was that it showed little change relative to June, as many consumers remained burdened by high prices, though inflation expectations dipped slightly.
