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US Stocks Slip But Are Still On Track For 6th Monthly Gain

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FILE - In this Tuesday, Feb. 16, 2021, file photo, American flags hang outside of the New York Stock Exchange in New York. Optimism for an economic revival is surging following a year of coronavirus-induced misery. But expectations for stronger growth, plus the higher inflation that could accompany it, are pushing interest rates higher, which is forcing investors to re-examine how they value every other investment. (AP Photo/Frank Franklin II, File)

(AP) – Stocks fell in afternoon 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 0.5%, putting it back in the red for the week, and the tech-heavy Nasdaq fell 0.7%. Amazon weighed down major indexes following a weak sales report and forecast. The internet giant, which has prospered during the pandemic, slumped 6.8% 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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