Stocks open lower, but still on track for 6th monthly gain

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Stocks are opening lower on Wall Street Friday, 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% in the early going, and the tech-heavy Nasdaq is off 0.9%. 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% after reporting sales that fell short of analysts’ forecasts and issued a weak outlook for the current quarter. 

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