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Fri. 10:59 a.m.: Stocks open lower, but still on track for 6th monthly gain

(AP) – Stocks are opening lower on Wall Street this morning, putting the S&P 500 back in the red for the week. The benchmark index is still on track to close out July with its sixth straight monthly gain. It’s down 0.5 percent in the early going, and the tech-heavy Nasdaq is off 0.9 percent. Amazon was a big drag on both indexes. The internet retail giant, which has prospered during the pandemic with the boom in online shopping, slumped 7.8 percent after reporting sales that fell short of analysts’ forecasts and issued a weak outlook for the current quarter.

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