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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 12, 2023. U.S. producer price index (PPI) climbed 0.8% in the 12 months leading to July, up from a 0.2% rise in the previous month, as costs of services increased. The drop in megacap growth and technology stocks, which have led outsized gains this year, has put the tech-heavy Nasdaq (.IXIC) and the S&P 500 (.SPX) on track to end lower for a second straight week. Declining issues outnumbered advancers by a 1.10-to-1 ratio on the NYSE and a 1.49-to-1 ratio on the Nasdaq. The S&P index recorded four new 52-week highs and three new lows, while the Nasdaq recorded 34 new highs and 131 new lows.

Persons: Brendan McDermid, Refinitiv, David Russell, Russell, Rupert Murdoch, Bansari Mayur Kamdar, Johann M, Shashwat Chauhan, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Corp, Dow, Nasdaq, Federal Reserve, Nvidia, Microsoft, Benchmark, Dow Jones, University of Michigan, News Corp, NYSE, Thomson Locations: New York City, U.S, China, JD.com, Bengaluru

REUTERS/Brendan McDermid//File PhotoSummaryCompanies US-listed China stocks fall as stimulus measures disappointFutures mixed: Dow up 0.02%, S&P down 0.06%, Nasdaq down 0.16%Aug 11 (Reuters) - U.S. stock index futures were subdued on Friday as investors awaited producer prices data that could offer more clarity on the Federal Reserve's rate hike path. Investors are now focused on the producer prices data due at 8:30 a.m ET that will offer more insight into inflation in the world's largest economy. U.S. Labor Department's producer price index (PPI) for final demand, is expected to rise 0.2% in July, after growing 0.1% in June. "This (PPI) data set is something of a crystal ball for consumer price inflation; when producers charge more for goods the higher costs are usually passed on to households." "Higher yields incentivize investors to park their cash in the safety of bonds, and therefore decreases demand for risky plays like equities."

Persons: Brendan McDermid, Russ Mould, AJ Bell, Marios Hadjikyriacos, Bansari Mayur Kamdar, Johann M, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Benchmark, Labor, PPI, Dow e, Nvidia, Treasury, XM, Thomson Locations: New York City, U.S, China, JD.com, Bengaluru

Buoyed by inflation numbers, traders not only expect the central bank to stop further monetary tightening in 2023, they are also betting the Fed would start cutting interest rates early next year. "Inflation has returned to the good old days where in 2019 we saw an average monthly increase of around 0.2% ... The Fed, therefore, might feel it can pause as planned and not raise interest rates in September," said George Mateyo, chief investment officer at Key Private Bank. The tech-heavy Nasdaq led Wall Street lower on Wednesday, with heavyweight Nvidia (NVDA.O) falling 4.7%, followed closely by the other "Magnificent Seven" megacap stocks that drove this year's stock rally. On the earnings front, Walt Disney (DIS.N) rose 3.2% after beating Wall Street estimates for quarterly adjusted profit per share.

Persons: Brendan McDermid, George Mateyo, Mary Daly, Walt Disney, Michael Kors, Tapestry's, Joe Biden, Bansari Mayur Kamdar, Johann M Cherian, Shashwat Chauhan, Shubham Batra, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Disney, Dow, Nasdaq, Reserve, Key Private Bank, San Francisco Fed, Microsoft, Apple, Nvidia, Dow Jones, Wall, Alibaba, Wednesday, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru

"We think that at this point there is some profit taking and retrenchment in the short term on the card," said Aadil Zaman, partner at Wall Street Alliance Group. However, Fed Governor Michelle Bowman on Monday said the combination of still-elevated inflation and continued economic growth meant further rate increases are likely. The Consumer Price Index (CPI) for July, due on Thursday, is expected to show a slight year-over-year acceleration. Seven of the top 11 S&P 500 sectors rose, led by gains in energy stocks (.SPNY), that increased 1.6%, touching a near six-month high, tracking a jump in crude oil prices. Of the 443 S&P 500 companies that have reported results as of Tuesday, 78.6% beat analyst expectations, according to Refinitiv data.

Persons: Aadil Zaman, Patrick Harker, Michelle Bowman, Monday, It's, Zaman, Brendan McDermid Big, Wells, Penn Entertainment's, Walt Disney's, Uber, advancers, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta Organizations: Penn, Dow, Nasdaq, . Federal Reserve, Wall, Nvidia, Apple, Wall Street Alliance Group, Philadelphia Fed, Traders, FedWatch, Index, CPI, New York Stock Exchange, REUTERS, Bank of America, Dow Jones, Casino, Walt, Walt Disney's ESPN, NYSE, Thomson Locations: U.S, New York City, Bengaluru

The Consumer Price Index (CPI) for July, due on Thursday, is expected to show a slight year-over-year acceleration. On a month-to-month basis, consumer prices are seen increasing 0.2%, the same rate as in June. [1/2]Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 7, 2023. ET, Dow e-minis were up 44 points, or 0.12%, S&P 500 e-minis were up 9 points, or 0.20%, and Nasdaq 100 e-minis were up 31.5 points, or 0.21%. Of the 443 S&P 500 companies that have reported earnings as of Tuesday, 78.6% beat analyst expectations, according to Refinitiv data.

Persons: Patrick Harker, Michelle Bowman, FEDWATCH, Brendan McDermid, Michael Hewson, Penn Entertainment's, Walt Disney's, Uber, Bansari Mayur, Shounak Dasgupta Organizations: Penn, Dow, Nasdaq, Federal Reserve, Index, Philadelphia Fed, Traders, Bank of America, Citigroup, New York Stock Exchange, REUTERS, ECB, Bank of England, CMC Markets, Dow e, Casino, Walt, Walt Disney's ESPN, Rivian, Thomson Locations: U.S, New York City, Asia, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. The ratings agency also warned that the sector's credit strength would likely be tested by funding risks and weaker profitability. Big banks Goldman Sachs (GS.N) and Bank of America (BAC.N) eased 0.8% and 1.4%, respectively, in premarket trading, while Bank of New York Mellon and U.S. Bancorp shed 2.3% each. "It also means that the concern that we had in March over those three bank defaults, is not over yet." Remarks by Philadelphia Fed President Harker and Richmond Fed President Barkin will be closely watched for cues about the U.S. central bank's rate path after mixed messages from New York Fed President John Williams and Fed Governor Michelle Bowman on Monday.

Persons: Brendan McDermid, Eli Lilly, Moody's, Goldman Sachs, Sam Stovall, Chris Montagu, Thursday's, Harker, Barkin, John Williams, Michelle Bowman, LLY.N, Zachary Kirkhorn, Elon Musk, Bansari Mayur Kamdar, Johann M, Sriraj Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Bank of New York Mellon, US Bancorp, Truist, Bank of America, U.S . Bancorp, U.S . Treasury, CFRA, Silicon Valley Bank, Signature Bank, Citi, Wall Street, Dow e, Philadelphia, Richmond Fed, New York Fed, United Parcel Service, Elon Musk ., Alibaba, Thomson Locations: New York City, U.S, Silicon, Richmond, New, Elon Musk . U.S, Bilibili, Bengaluru

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. U.S. stocks have sharply rallied in 2023, with the benchmark S&P 500 (.SPX) clocking 17% gains year to date, fueled by optimism around artificial intelligence and hopes of a soft landing for the world's largest economy. "But in the service side, it's been pretty sticky and that's one reason why it's taking a lot longer for inflation to subside." Reuters GraphicsOverall, second-quarter earnings have been better-than-expected so far, with 79.1% of the 422 S&P 500 companies that have reported as of Friday beating analysts' estimates, according to Refinitiv data. The S&P index recorded 17 new 52-week highs and seven new lows, while the Nasdaq recorded 46 new highs and 128 new lows.

Persons: Brendan McDermid, Dow, Charlie Ripley, it's, John Williams, Michelle Bowman, Vaibhav, Zachary Kirkhorn, Berkshire Hathaway, Warren Buffett, Tyson, packer, Bansari Mayur Kamdar, Johann M, Saumyadeb Chakrabarty, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Berkshire, Tyson, Dow, Nasdaq, Federal, CPI, Allianz Investment Management, York Fed, Dow Jones, Apple, Reuters, Sage Therapeutics, Tyson Foods, Yellow Corp, NYSE, Thomson Locations: New York City, U.S, Bengaluru

Meta Platforms (META.O) gained 8.6% in premarket trading after it also reported a jump in second-quarter advertising revenue, topping Wall Street financial targets. Outsized gains in megacap growth stocks has helped Nasdaq (.IXIC) lead the charge on Wall Street so far this year, but Dow (.DJI) is catching up as investors bet on sectors beyond technology. ET, Dow e-minis were up 48 points, or 0.13%, S&P 500 e-minis were up 26 points, or 0.57%, and Nasdaq 100 e-minis were up 186 points, or 1.19%. Southwest Airlines (LUV.N) tumbled 6.9% after the airline warned of higher labor costs for the year and posted a dip in second-quarter profit. Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: FEDWATCH, Jerome Powell, Powell, David Mericle, Goldman Sachs, Bansari Mayur Kamdar, Johann M, Shinjini Organizations: Netflix, Microsoft, Dow, Nasdaq, Wall, U.S, U.S . Federal, Meta, Facebook, U.S . Federal Reserve, Commerce Department, Dow e, EBay, Nvidia, Micron, Marvell Technology, Lam Research, Citigroup, Bank of America, Southwest Airlines, Thomson Locations: U.S ., U.S, Wells Fargo, Bengaluru

[1/2] A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 24, 2023. Microsoft (MSFT.O) eased 4.0% after laying out an aggressive spending plan to meet demand for its new artificial intelligence (AI)-powered services. "This is indicative of the selectivity we are seeing in big tech after such a stock price surge so far this year." Advancing issues outnumbered decliners by a 1.50-to-1 ratio on the NYSE and by a 1.32-to-1 ratio on the Nasdaq. The S&P index recorded 24 new 52-week highs and no new lows, while the Nasdaq recorded 58 new highs and 64 new lows.

Persons: Brendan McDermid, David Bahnsen, Melissa Brown, we're, Dow, Jim Vena, Lance Fritz, Wells Fargo, Bansari Mayur Kamdar, Johann M, Savio D'Souza, Anil D'Silva, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Microsoft, Boeing, Dow, Nasdaq, Federal, Google, NYSE, Bahnsen, Facebook, Applied Research, Reuters Graphics Reuters, Dow Jones, Union Pacific, Thomson Locations: New York City, U.S, Qontigo, Bengaluru

SummaryCompanies Alphabet climbs on Q2 profit beatMicrosoft slides as AI spending grows faster than revenueFed's rate decision awaited at 2:00 p.m. Meta Platforms <META.O> rose 1.8% after Alibaba's cloud unit said it would support the Facebook owner's open-source AI model Llama. The Fed is expected to deliver a 25-basis point interest rate hike later in the day, though there is less clarity over what the central bank will do at subsequent meetings. ET, Dow e-minis were down 65 points, or 0.18%, S&P 500 e-minis were down 7.25 points, or 0.16%, and Nasdaq 100 e-minis were down 43.75 points, or 0.28%. Wells Fargo (WFC.N) climbed 2.8% after the bank's board authorized a new share buyback program of up to $30 billion.

Persons: Joshua Warner, Stefan Koopman, Wells Fargo, Bansari Mayur Kamdar, Johann M, Savio D'Souza, Anil D'Silva Organizations: Microsoft, Dow, Nasdaq, Wall, Google, NYSE, Facebook, Rabobank, Dow e, Federal Trade Commission, Thomson Locations: Bengaluru

Results from Google-owner Alphabet (GOOGL.O) and Microsoft (MSFT.O), due after the bell, will be a test for their hefty valuations. "Nonetheless, while we expect the summer rally to continue, investor exuberance is likely to lessen in the near-term, portending a less vigorous rally." ET, Dow e-minis were up 11 points, or 0.03%, S&P 500 e-minis were up 4 points, or 0.09%, and Nasdaq 100 e-minis were up 39.5 points, or 0.25%. 3M Co (MMM.N) rose 2.2% after the industrial conglomerate raised its annual adjusted profit forecast. ET is consumer confidence data that is expected to rise to 111.8 in July from 109.7 in June.

Persons: Peter Cardillo, Rivals Tesla, Bansari Mayur Kamdar, Johann M, Shinjini Ganguli, Shounak Organizations: Dow, Nasdaq, Google, Microsoft, Spartan, outsized, U.S, Dow e, General Electric, General Motors, Rivals, Ford, 3M, Thomson Locations: U.S . Federal, Chevron, China, Bengaluru

The tech-heavy Nasdaq Composite index (.IXIC) has rallied nearly 35.2% this year, helped by outsized gains in rate-sensitive megacap growth companies on optimism over artificial intelligence and hopes of an end to the U.S. Federal Reserve's tightening cycle. The S&P composite 1500 passenger airlines sub index (.SPCOMAIR) dropped 4.4%, bogged down by a 12.0% fall in Alaska Air (ALK.N) after the airline's annual revenue growth outlook missed expectations. 3M Co (MMM.N) rose 5.6% as the industrial conglomerate raised its annual adjusted profit forecast. Advancing issues outnumbered decliners by a 1.33-to-1 ratio on the NYSE and by a 1.13-to-1 ratio on the Nasdaq. The S&P index recorded 27 new 52-week highs and no new lows, while the Nasdaq recorded 55 new highs and 58 new lows.

Persons: Jake Dollarhide, Whitney, Bansari Mayur Kamdar, Johann M, Shinjini Ganguli, Shounak Organizations: GE, Pratt & Whitney, Dow, Nasdaq, Microsoft, Federal Reserve, Google, outsized, U.S, Tech, Longbow Asset Management, Boeing, Pratt, Airbus, Alaska Air, Dow Jones, General Electric, General Motors, 3M, NYSE, Thomson Locations: U.S . Federal, China, Bengaluru

The action-packed week also includes the Fed's policy meeting, with the central bank expected to raise interest rates by 25 basis points on Wednesday. As of Friday, second-quarter earnings are expected to decline by 7.9%, according to Refinitiv data. The tech-heavy Nasdaq (.IXIC) has rallied 34% so far this year, outperforming its Wall Street peers, as rate-sensitive megacap growth companies jumped on hopes of an end to the Fed's tightening cycle and optimism over AI. Ten of the 11 major S&P 500 sectors were higher, led by a 2.1% gain in energy stocks (.SPNY). The S&P index recorded 14 new 52-week highs and one new lows, while the Nasdaq recorded 41 new highs and 67 new lows.

Persons: Barbie, Chris Zaccarelli, Toymaker Mattel, AMC's, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, Anil D'Silva Organizations: Chevron, Dow, Nasdaq, Federal Reserve, Microsoft, Google, Reuters, Independent, Alliance, Dow Jones, AMC Entertainment, NYSE, Thomson Locations: Bengaluru

Last week, Netflix (NFLX.O) and Tesla (TSLA.O) posted less-than-stellar quarterly reports. The electric-vehicle maker eased 1.3% in premarket trading after UBS downgraded its rating on the stock, while other megacap growth and technology shares edged higher. ET, Dow e-minis were up 44 points, or 0.12%, S&P 500 e-minis were up 8.75 points, or 0.19%, and Nasdaq 100 e-minis were up 35.25 points, or 0.23%. AMC Entertainment (AMC.N) jumped 47.5% after a judge blocked the theater chain's stock conversion plan that risked diluting investors' holdings in the company. Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru; Editing by Saumyadeb Chakrabarty and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Barbie, Sophie Lund, Yates, Hargreaves Lansdown, Mattel, AMC's, Bansari Mayur Kamdar, Johann M, Saumyadeb Chakrabarty, Shounak Organizations: UBS, Dow, Nasdaq, Federal Reserve, Microsoft, Netflix, Reuters, Fed, Dow e, Warner Bros, AMC Entertainment, Global, PMI, Thomson Locations: Bengaluru

Meanwhile, the tech-heavy Nasdaq (.IXIC) lagged in the previous session as earnings reports from Tesla (TSLA.O) and Netflix (NFLX.O) failed to dazzle. The megacap electric automaker recovered 1.1% in premarket trading on Friday, while the streaming video company edged higher. The NYSE FANG+TM index (.NYFANG) that houses the megacap growth names also closed 4.6% lower in the previous session, notching its worst day so far in 2023. ET, Dow e-minis were up 13 points, or 0.04%, S&P 500 e-minis were up 11 points, or 0.24%, and Nasdaq 100 e-minis were up 73.75 points, or 0.47%. Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Johnson, Powell, David Mericle, Goldman Sachs, Toymaker Mattel's, Morgan Stanley, Bansari Mayur Kamdar, Johann M, Shinjini Organizations: Mattel, Dow, Nasdaq, Johnson, Tesla, Netflix, NYSE, Dow e, American Express, Investors, Thomson Locations: Bengaluru

The tech-heavy Nasdaq (.IXIC) lagged Wall Street peers in the previous session as earnings reports from Tesla (TSLA.O) and Netflix (NFLX.O) failed to dazzle. The NYSE FANG+TM index (.NYFANG), that houses the megacap growth names, rose 0.5 on Friday, after falling 4.6% in the previous session and posting its worst day in 2023. American Express (AXP.N) fell 5.0% after the credit card giant missed quarterly revenue expectations and kept its forecast for full-year profit unchanged, which unnerved investors. SLB (SLB.N) shed 2.3% as the top oilfield services firm missed quarterly revenue expectations due to moderating drilling activity in North America. The S&P index recorded 26 new 52-week highs and no new lows, while the Nasdaq recorded 51 new highs and 22 new lows.

Persons: AmEx, Dow, Johnson, Hogan, Bansari Mayur Kamdar, Johann M, Shinjini Organizations: Dow, Nasdaq, Johnson, Riley, Tesla, Netflix, NYSE, Dow Jones, American Express, Investors, Thomson Locations: North America, Bengaluru

Shares of the electric car maker slid 3.1% in premarket trading after Musk's comments, even as Tesla beat quarterly profit estimates. Netflix (NFLX.O) fell 6.0% after the streaming video company's quarterly revenue forecast also fell short of estimates, while analysts said its new money-making ventures will take time to bring in returns. ET, Dow e-minis were up 61 points, or 0.17%, S&P 500 e-minis were down 4.25 points, or 0.09%, and Nasdaq 100 e-minis were down 98 points, or 0.61%. Investors also await weekly jobless claims data and existing home sales data for the month of June, due later in the day. Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla, Johnson, Elon Musk, markdowns, Joshua Warner, Dow, Goldman Sachs, chipmaker TSMC, Bansari Mayur Kamdar, Johann M, Dhanya Ann Thoppil Organizations: Netflix, Dow, Nasdaq, U.S . Federal Reserve, Enterprise, IBM, Dow e, Airlines, Investors, Thomson Locations: U.S, Bengaluru

The S&P 500 banking index (.SPXBK) added 1.5%, but was still down 1.8% this year in the aftermath of a banking crisis that took down three lenders and pummeled the regional banking sector. The benchmark S&P 500 index (.SPX) has notched a 19.2% gain in the same period. Elevance Health (ELV.N) advanced 5.1% and was among top gainers on the S&P 500 after the health insurer forecast an upbeat annual profit. Halliburton(HAL.N) shed 2.8% after posting disappointing quarterly revenue, while Baker Hughes(BKR.O) edged up 0.5% after beating quarterly earnings expectations. The S&P index recorded 36 new 52-week highs and no new lows, while the Nasdaq recorded 117 new highs and 42 new lows.

Persons: Goldman, Goldman Sachs, Mike Loewengart, Dow, Baker Hughes, Bansari Mayur Kamdar, Johann M, Saumyadeb Chakrabarty, Maju Samuel Organizations: T Bank, Dow, Nasdaq, Big, Morgan Stanley Global Investment, Citizens, U.S, U.S . Federal, US Bancorp, Dow Jones, Netflix, IBM, Verizon, Elevance, Halliburton, NYSE, Thomson Locations: Big U.S, U.S ., Minneapolis, Bengaluru

Big U.S. lenders rallied on Tuesday after they said higher interest rates had helped boost profits in the second quarter. The S&P 500 banking index (.SPXBK) has fallen 3.4% this year in the aftermath of a banking crisis that took down three lenders and pummeled the regional banking sector. The benchmark S&P 500 index (.SPX) has notched an 18.6% gain in the same period. Among other lenders, Citizens Financial(CFG.N) and M&T Bank(MTB.N) beat Wall Street estimates for second-quarter profit, benefiting from the U.S. Federal Reserve's rapid rate hikes. ET, Dow e-minis were up 7 points, or 0.02%, S&P 500 e-minis remained unchanged, and Nasdaq 100 e-minis were up 22.5 points, or 0.14%.

Persons: Goldman Sachs, Goldman, Dennis Dick, noteholders, Bansari Mayur Kamdar, Johann M, Saumyadeb Chakrabarty, Maju Samuel Organizations: T Bank, Dow, Nasdaq, Street, Big, Triple D, Citizens, U.S, U.S . Federal, Dow e, Credit Suisse, Netflix, IBM, Microsoft, Verizon, Elevance, VMware, Federal Reserve, Thomson Locations: Big U.S, U.S ., Bengaluru

Bank of America (BAC.N) rose marginally in premarket trading after the lender posted a 20% surge in second-quarter profit, while Morgan Stanley's (MS.N) shares pared early gains after the bank's profit slipped 18%, hurt by a deal-making drought. The S&P 500 banks index (.SPXBK) has fallen 5.2% so far this year, underperforming the S&P 500 index (.SPX) which has notched a 17.8% gain after the biggest banking crisis since 2008 earlier this year took down three lenders and pummeled the sector. Overall earnings across industries are expected to decline 8.1% for the quarter, according to Refinitiv data. ET, Dow e-minis were down 18 points, or 0.05%, S&P 500 e-minis were down 3.75 points, or 0.08%, and Nasdaq 100 e-minis were down 26.25 points, or 0.17%. Pinterest (PINS.N) gained 3.3% as Evercore ISI upgraded its rating on the stock to "outperform" and Marvell Technology (MRVL.O) climbed 1.1% after Bank of America added the chipmaker to its U.S. No.1 list.

Persons: Morgan Stanley, Morgan Stanley's, Sam Stovall, Wells, Lockheed Martin, Bansari Mayur Kamdar, Johann M, Nivedita Bhattacharjee Organizations: Bank of America, Dow, Nasdaq, CFRA Research, JPMorgan Chase, Bank of New York Mellon, PNC Financial Services, Lockheed, Dow e, Federal Reserve, ISI, Marvell Technology, U.S, Thomson Locations: New York, Bengaluru

Shares of Charles Schwab jumped 13.2%, leading gains on the S&P 500 (.SPX), and those of PNC rose 2.6%. The S&P 500 banks index (.SPXBK) has fallen 3.9% so far this year, in the aftermath of a banking crisis that took down three lenders and pummeled the sector, underperforming the S&P 500 index (.SPX) that has notched a 17.8% gain in the same period. ET, the Dow Jones Industrial Average (.DJI) was up 141.63 points, or 0.41%, at 34,726.98, the S&P 500 (.SPX) was up 3.12 points, or 0.07%, at 4,525.91, and the Nasdaq Composite (.IXIC) was down 43.61 points, or 0.31%, at 14,201.34. Eight of the top 11 S&P 500 sectors advanced with industrials (.SPLRCI) leading gains, while technology stocks (.SPLRCT) fell 0.6%. The S&P index recorded 20 new 52-week highs and no new lows, while the Nasdaq recorded 65 new highs and 33 new lows.

Persons: Morgan Stanley, Lockheed Martin, MS.N, Robert Pavlik, Wells, Charles Schwab, Bansari Mayur Kamdar, Johann M, Nivedita Bhattacharjee Organizations: Bank of America, Lockheed, Dow, Nasdaq, Dakota Wealth ., . Federal, JPMorgan Chase, PNC Financial Services, PNC, Dow Jones, industrials, Wall, U.S . Federal Reserve, ISI, NYSE, Thomson Locations: ., Bengaluru

Of the 30 companies in the S&P 500 that have reported earnings as of Friday, 80% beat analyst expectations, according to Refinitiv data. Tesla (TSLA.O) gained 1.9% after the company said on Sunday it had built its first Cybertruck, after two years of delays. New York Fed Manufacturing data showed the general business conditions index fell to 1.1 from 6.6 in June, indicating activity changed little during the month. Elsewhere, data showed the Chinese economy grew at a frail pace in the second quarter. The S&P index recorded 44 new 52-week highs and four new lows, while the Nasdaq recorded 104 new highs and 50 new lows.

Persons: Ford, Morgan Stanley, Goldman Sachs, Chris Zaccarelli, JPMorgan Chase, Bansari Mayur Kamdar, Johann M, Nivedita Bhattacharjee, Maju Samuel Organizations: Citi, Dow, Nasdaq, Apple, Tesla, Bank of America, Netflix, Independent, Alliance, Ford, General Motors, Dow Jones, Federal Reserve, New York Fed, JPMorgan, Citigroup, Activision, Microsoft, PlayStation, Federal Trade, NYSE, Thomson Locations: Wells Fargo, U.S, Bengaluru

Second-quarter earnings are gathering momentum, with Tesla (TSLA.O) due to report on Wednesday, while Bank of America (BAC.N), Morgan Stanley (MS.N), Goldman Sachs (GS.N) and Netflix (NFLX.O) are also lined up through the rest of the week. Of the 30 companies in the S&P 500 that have reported earnings as of Friday, 80% beat analyst expectations, according to Refinitiv data. In trading before the bell, Tesla <TSLA.O> gained 1.6% after the company said on Sunday it had built its first Cybertruck, after two years of delays. Lackluster Chinese economic data weighed on investors' minds on Monday as the world's second largest economy grew at a frail pace in the second quarter. During the week, investors also await retail sales and new homes figures for June.

Persons: Morgan Stanley, Goldman Sachs, JPMorgan Chase, Danni Hewson, AJ Bell, Bansari Mayur, Nivedita Bhattacharjee, Maju Samuel Organizations: Dow, Nasdaq, Bank of America, Netflix, Dow e, Federal Reserve, JPMorgan, Citigroup, Activision, Microsoft, PlayStation, Federal Trade, Meta, Thomson Locations: Norway, Wells Fargo, U.S, Bengaluru

The benchmark S&P 500 (.SPX) was solidly higher for most of the afternoon, but stocks sold off toward the end of the session. "The jobs report today I think is consistent with what the Fed would like to see," said Josh Jamner, investment strategy analyst at ClearBridge Investments. Among S&P 500 sectors, defensive groups fell the most, with consumer staples (.SPLRCS) down 1.3%. For the week, the S&P 500 fell about 1.2%, the Dow slid roughly 2% and the Nasdaq dropped 0.9%. The S&P 500 posted 11 new 52-week highs and five new lows; the Nasdaq Composite recorded 45 new highs and 63 new lows.

Persons: Levi Strauss, Quincy Krosby, stoked, Josh Jamner, Brendan McDermid, Russell, Dow, Austan Goolsbee, Alibaba, decliners, Lewis Krauskopf, Sinead Carew, Bansari Mayur Kamdar, Johann M, Caroline Valetkevitch, Shinjini Ganguli, Richard Chang Organizations: Dow, Nasdaq, LPL, Reserve, ClearBridge Investments, Dow Jones, Energy, New York Stock Exchange, REUTERS, Chicago Fed, Rivian Automotive, Ant Group, NYSE, Thomson Locations: U.S, New York City, New York, Bengaluru

The U.S. added the fewest jobs in 2-1/2 years in June, although persistently strong wage growth pointed to still-tight labor market conditions, U.S. government data showed. "The jobs report today I think is consistent with what the Fed would like to see," said Josh Jamner, investment strategy analyst at ClearBridge Investments. According to preliminary data, the S&P 500 (.SPX) lost 12.42 points, or 0.28%, to end at 4,399.17 points, while the Nasdaq Composite (.IXIC) lost 18.33 points, or 0.13%, to 13,660.72. Energy (.SPNY) and materials (.SPLRCM) were among the biggest-gaining S&P 500 sectors, while defensive groups including consumer staples (.SPLRCS) lagged. Friday's jobs report kicks off a busy month of data including reports on inflation and corporate earnings ahead of the Fed meeting at the end of July.

Persons: Levi Strauss, payrolls, Josh Jamner, Austan Goolsbee, Carol Schleif, Alibaba, Lewis Krauskopf, Bansari Mayur Kamdar, Johann M, Caroline Valetkevitch, Shinjini Ganguli, Richard Chang Organizations: Reserve, ClearBridge Investments, Nasdaq, Dow Jones, Energy, Chicago Fed, BMO Family, Rivian Automotive, Ant Group, Thomson Locations: U.S, New York, Bengaluru

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