US stocks essentially finish flat, with the DJIA erasing an early 120-point loss, as bulls were able to overcome a weak 2Q GDP reading.
DJIA closes down 1 to 10466, but finishes July up 7.1%, its first positive month since April and best monthly gain since last July. S&P 500 ticks up 0.07 to 1102, rises 6.9% for the month. Nasdaq Comp gains 2 to 2255, also ends July up 6.9%.
Better-than-expected manufacturing and consumer sentiment data provide bulls with enough fuel to overcome session’s early losses.
But one caveat comes with July’s performance: The monthly gains come amid thin volume as only two trading days in July exceeded the daily average on NYSE. Just something to keep in mind as the dog days of summer keep rolling on.