REUTERS: U.S. stock indexes edged lower on Thursday as investors awaited more developments around trade, while Netflix posted a surprise drop in U.S. subscribers, kicking off earnings for the FAANG group of stocks on a sour note.
"Netflix did nothing to soothe investor concerns around what earnings prospects are likely to unfold over the next couple of weeks," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia. The three main Wall Street indexes have retreated slightly from record highs this week as second-quarter earnings rolled in."With the run we've had in the market, conditions have been overbought and in that light the market have been right in releasing some of that pressure from the rally."
Investors also await the Federal Reserve's policy meeting at the end of July where expectations of an interest rate cut are very high.
Source: News Formal (newsformal.com)
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