On Thursday, August 1st, U.S. stock markets closed lower due to data raising concerns about the economy slowing too rapidly amid the Federal Reserve’s restrictive monetary policy. Although early gains in Meta Platforms initially lifted stocks, worries over AI-related earnings and the outlook for megacap stocks have recently pressured the market. In economic data, the ISM manufacturing PMI fell to 46.6 in July from 48.5 in June, below the expected 48.8. Construction spending decreased by 0.3% to an annual rate of $2,148 billion in June. Initial jobless claims rose by 14,000 to 249,000 for the week ending July 27th, exceeding the forecast of 236,000. The S&P 500’s sectors closed mixed, with utilities, real estate, and consumer staples leading gains, while information technology and energy stocks lagged. The Dow Jones Industrial Average was down ...