US stocks fall as traders weigh earnings reports and economic growth projections

NYSE traders
  • All three of Wall Street’s major averages were lower early Friday.
  • The Dow Jones Industrial Average backed off a record high, with Amazon shares losing ground.
  • Sentiment appeared to be weighed by disappointing economic data from the eurozone and China.
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US stocks XXX Friday

Here’s where US indexes stood at 4 p.m. on Friday:

Friday’s trading kicked off with news that the eurozone economy shrank in the first quarter of 2021 as the bloc struggled with containing the COVID-19 pandemic and a slow rollout of coronavirus vaccinations. That appeared to weigh on sentiment alongside data showing growth in China’s key manufacturing sector slowed by more than expected in April.

The Dow average was hurt by a drop in Amazon shares even as the online retailer blew past Wall Street’s targets for its first-quarter earnings report. Wall Street’s main benchmark were still on course to rise for the week.

Gold was steady at $1,770.85 per ounce. Long-dated US treasury yields slipped, with the 10-year yield at 1.637%.

Oil prices dropped. West Texas Intermediate crude fell 2.4% to $63.46 per barrel. Brent crude, oil’s international benchmark, lost 1.8% to $66.78 per barrel.

Bitcoin jumped to $55,431.