How major U.S. stock market indexes fared on Friday

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Latest data from Thomson Reuters showed that the S&P 500 companies' blended earnings in the second quarter of 2017 are expected to rise 10.8 per cent year on year, while the revenues are forecast to increase 5.0 per cent. The S&P 500 lost 6.52 points, or 0.26 per cent, to 2,468.90, Xinhua news agency reported.

The S&P 500 slipped on Friday on negative reactions to earnings reports from high-profile names such as Amazon, Exxon and Starbucks and a drop in shares of tobacco companies.

Procter & Gamble, another Dow component, won 1.6 percent after reporting better-than-expected quarterly profits and projecting higher sales in fiscal 2018.

Concerns about the latest developments in Washington also weighed on the markets after Republicans failed in their latest attempt to repeal Obamacare.

Amazon lost 2.5 percent after its second-quarter profit fell far short of expectations as the company invested more money in its business.

The American economy, on the other hand, grew 2.6 percent in the second quarter of the year, the U.S. Commerce Department announced earlier Friday.

I were driven lower by a 3.95 percent fall in United Parcel Service (UPS.N), despite the package service company posting a better-than-expected quarterly profit.

The report said the consumer sentiment index for July was upwardly revised to 93.4 from the preliminary reading of 93.1.

Tobacco stocks managed to climb well off their worst levels of the session but still saw substantial weakness on the day.

The Dow gained 33.76 (+0.15 percent) to finish at 21,830.31.

The Nasdaq fell 13.08 points, or 0.2 percent.

In the bond market, treasuries have moved mostly higher after seeing some early volatility. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 2.1 basis points to 2.289%.

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