Stocks Exit July With A Whimper -- U.S. Commentary

(RTTNews) - U.S. stocks ended a decent month on a lackluster note Friday amid confusion about when the Federal Reserve will finally raise interest rates.

Government data showed the employment-cost index showed wage inflation in the second quarter was much lower than expected, suggesting some underlying weakness in the labor market.

Also, Consumer sentiment in the U.S. pulled back by more than previously estimated in the month of July, according to a report released by the University of Michigan on Friday.

All of the major indices were higher for the week and month.

The S&P 500 closed 4.71 points, or 0.2 percent, lower at 2,103.90. The index ended July with a 2 percent gain over the month. The Dow Jones Industrial Average slipped 55.32 points, or 0.3 percent, to 17,690.66, for a 0.4 percent gain over the month. The Nasdaq Composite ended the session less than a point lower at 5,218.28 and was up 2.9 percent over the month.

Among notable winners, Coca-Cola Enterprises Inc. (CCE) jumped 12% on reports saying it is in merger talks with other Coke bottlers.

Expedia (EXPE) soared 12 percent after beating earnings expectations. Royal Caribbean (RCL) added 8 percent after raising guidance.

Weakness was seen among energy stocks. Oil companies Exxon Mobil Corp. (XOM) and Chevron Corp. (CVX) both reported profits for the second quarter that missed analysts' estimates. Crude oil prices fell yet again.