US STOCKS-Nasdaq lags on angst over AI spending ahead of earnings reports
SPY•U.S. data and other movers
Friday's data showed that activity in the U.S. services sector accelerated in July, aided in part by spending around the FIFA World Cup and the Independence Day holiday, while the pace of growth in the manufacturing sector eased to the slowest since March.
Among other individual gainers, SLB SLB.N shares climbed after the oilfield services firm beat expectations for second-quarter profit.
Oil, rates and sector movers
Among the S&P 500's 11 major industry indexes, real estate .SPLRCR outperformed during the session. The sector's leading gainer was Digital Realty Trust DLR.N, which rallied after it raised its full-year forecast for funds from operations.
Also providing some relief, crude oil futures fell more than 3% while traders booked profits from a massive rally in the last five sessions and after sources said China was pushing to resume stalled U.S.-Iran peace talks. Still, U.S. missiles struck targets across Iran after President Donald Trump vowed "major military punishment" for Tehran and its Houthi allies in Yemen.
