The major U.S. stock indices kicked off the week with mixed moves on Monday. The Dow Jones Industrial Average added points while the S&P 500 Index and NASDAQ Composite closed in the red. The mixed results were likely on a variety of economic data. While Retail Sales posted their fourth consecutive month of solid growth, the Energy sector weighed on the market as the price of crude oil dropped nearly 4%. The following day, the NASDAQ closed at a record high, led up by rebounding technology brands. Earnings season fueled the movements for the Dow and the S&P mid-week as the the sentiment of earnings and the economy outweighed trade and tariff tensions. The major indices reversed course and closed in red territory on Thursday with Financial stocks leading decliners amid a variety of economic news. Initial jobless claims decreased last week as the Department of Labor data showed first-time claims fell by 8,000 to 207,000 for the week ending July 14. Despite spending the majority of the session in positive territory, stocks ended trading fractionally lower on Friday; however, gains in the Financials and Consumer Staples sectors limited declines on the S&P 500. It seems that President Trump’s comments suggesting more tariffs on Chinese goods stirred enough doubt for investors to take late-day profits.
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