Schwab Market Update: Stocks Posting Lackluster Session But Up Solidly This Week

U.S. stocks are mixed and a bit subdued in early action, but are holding onto a sharp weekly advance. The markets are lackluster after a host of global preliminary July manufacturing and services sector reports that are signaling slowed business activity. Q2 earnings season continues to roll on, with Snap falling sharpy after its results, and Dow member Verizon Communications seeing pressure after posting mixed results, though Dow component American Express is rallying after topping expectations. Treasuries are gaining ground to apply some downside pressure on yields but the inversion of the curve remains. The U.S. dollar is little changed, crude oil prices are lower, and gold is trading to the upside. After the opening bell, we will get reads on preliminary July manufacturing and services sector activity. Asia finished mixed following data, and Europe is trading modestly to the upside.