Stocks are ending July -- a month that saw a string of records for the S&P 500 and Nasdaq Composite -- on a choppy note, with the indexes dipping in and out of negative territory in afternoon trade.

The S&P 500 slipped back into negative territory in afternoon trade, erasing a gain of more than 1% that followed stellar earnings for tech giants Microsoft and Meta. The S&P 500 was up 1.01% at its ...