US stocks fell Friday due to a weak forecast by Amazon for sales.Inflation gauge PCE rose 0.5% in June. This indicates that prices continue to rise despite supply chain distortions.The 10-year Treasury note yield was 1.231%. This is a decrease of 3.8 basis points.Subscribe to our daily newsletter 10 Things Before The Opening Bell.The US stock market closed lower in the final trading day of the month due to a weak forecast by Amazon regarding sales.Amazon's quarterly earnings fell short of expectations after Thursday's close. The company missed its quarterly sales estimates for 2018 for the first time. Investors are concerned that Amazon's profit and sales forecasts fell below expectations.The shares of the ecommerce giant fell by as much as 8.8%, their largest fall since May 2020. This resulted in a loss of $148 billion for Amazon's market capitalization.The pandemic's greatest winners have been tech giants. Amazon's most recent report highlights the difficulty of maintaining a strong pace of sales when the economy reopens."While the outlook was disappointing and bears could argue Amazon invests in 1-Day fulfillment out of competive necessity, we think Amazon still remains in a strong position with US retail growth likely exceeding industry growth rates," Bank of America analysts Justin Post, Michael McGovern stated in a Friday note.Here are the US indexes shortly after 4:00 p.m. ET closes FridayPinterest shares plunged 19% to a 2-month low following a quarterly report by the company about a loss of active users. This was due to the COVID-19 restrictions being eased, which encouraged more people to take part in other activities.Stocks in the US have been rising steadily over recent weeks as investors rejoiced at strong corporate earnings and an accelerating pace for global economic recovery. Positive sentiment has been dampened by inflationary worries and the COVID-19 Delta variant.The S&P 500 managed to post six consecutive months of gains.The 10-year Treasury note yield was 1.231%. This is 3.8 basis points lower than the previous year.The Personal Consumption Expenditures price Index - a closely watched measure of national inflation - increased 0.5% last month. This suggests that prices have continued to rise amid supply chain problems across the US.Bloomberg economists had surveyed 0.4% growth as a median estimate. The reading was higher than that. It also matched the May print with 0.5% growth.Oil prices rose. West Texas Intermediate crude oil rose 0.4% to $73.92 a barrel. Brent crude oil, the international benchmark for oil, rose 0.37% to $76.33 per barrel.The price of gold fell 0.93% to $1813.49 an ounce.
