Well, so much for getting back in the black for the year. After spending most of the day up, and putting the index back in positive territory for 2020, the S&P 500 Index (SNPINDEX: ^GSPC) lost 30 points, or nearly 1%, on July 13.
Snack and beverage giant PepsiCo (NASDAQ: PEP) reported earnings that made investors happy, and casino stocks Wynn Resorts (NASDAQ: WYNN), Last Vegas Sands Corp (NYSE: LVS), and MGM Resorts International (NYSE: MGM), up on news that Macao is set to open up to more visitors. But that wasn't enough to make up for losses from the biggest of the mega-cap tech giants that dominate the index. Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), Amazon.com (NASDAQ: AMZN), Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL), and Facebook (NASDAQ: FB), with a combined market cap of $6.6 trillion, all finished the day in negative territory. Amazon and Microsoft were the biggest losers, falling 3%.
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