Stock Market Update

[BRIEFING.COM] Stocks are largely on the retreat this morning in response to newly announced tariff hikes, earnings from Apple (AAPL 207.18, -0.39, -0.19%) and Amazon (AMZN 219.16, -14.95, -6.39%), and a weaker-than-anticipated July employment report. 

The S&P 500 (-1.7%), DJIA (-1.5%), and Nasdaq Composite (-2.3%) all opened to notable losses, with eight S&P 500 sectors trading in negative territory. 

The July ISM Manufacturing Index decreased to 48.0% in June (Briefing.com consensus 49.5%) from 49.0% in June.

The final July University of Michigan Consumer Sentiment Index decreased to 61.7 (Briefing.com consensus 61.8) from the preliminary reading of 61.8.

Total construction spending decreased 0.4% month-over-month in June (Briefing.com consensus +0.1%) after an upwardly revised 0.3% decline (from -0.4%) in May.

The final July S&P Global Manufacturing PMI registered at 49.8, from a prior reading of 52.9.