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Expedia ( EXPE ) gains after Q2 profit beat

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Elf Beauty ( ELF ) falls on dour FY sales, profit forecast

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Paramount jumps on steady streaming growth

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Indexes down: S&P 500 0.12%, Nasdaq 0.09%, Dow 0.34%

(Updated at 9:35 a.m. ET/ 1335 GMT)

By Shubham Batra and Shashwat Chauhan

Aug 9 (Reuters) - Wall Street's main indexes were set to

clock weekly losses on Friday, capping off a tumultuous week

where global markets were rattled by a sharp appreciation in the

low-yielding yen and fears of a recession in the world's biggest

economy.

Megacap and growth stocks were mixed, with Alphabet

down over 1% and Amazon.com ( AMZN ) was up 0.6%.

In the previous session, U.S. stocks had jumped after

jobless claims last week fell more than expected, easing worries

of a prolonged slowdown in the United States that were spurred

after July's dour jobs data.

The CBOE Volatility Index, Wall Street's "fear

gauge", stood at 24.07 points, far below the 65.73 at the start

of the week, which witnessed a global stocks rout triggered by a

surge in yen as a surprise rate hike by the Bank of Japan

resulted in unwinding of currency carry trades.

But all major indexes were set for weekly losses, with both

the S&P 500 and the Nasdaq headed for a fourth

straight week of fall.

"In general, we're still in this environment where the

economy is slowing if not grinding to a halt, inflation is

coming down, which is not suggestive at all of recession. We're

still growing, just not as much," said Christopher Jackson,

senior vice president at UBS Wealth Management.

Fed policymakers said on Thursday they were confident that

inflation was cooling enough to allow interest-rate cuts ahead,

and will take their cues on the size and timing of those cuts

from the economic data.

Money markets are now evenly split between the Fed cutting

rates by 50-basis points and 25-basis points in September,

according to CME's FedWatch Tool.

Investors are now focusing on next week's readings on the

consumer prices and retail sales for July, which could provide

fresh evidence on chances of a soft landing for the American

economy.

At 09:35 a.m. ET, the Dow Jones Industrial Average

fell 133.28 points, or 0.34%, to 39,313.21, the S&P 500

lost 6.27 points, or 0.12%, to 5,313.04 and the Nasdaq Composite

lost 15.13 points, or 0.09%, to 16,644.89

Nine of the 11 major S&P sectors were trading lower, with

utilities and communication services leading

the losses.

Among individual stocks, Elf Beauty ( ELF ) fell 14.5% after

it forecast annual sales and profit below estimates, while

Paramount Global ( PARAA ) jumped 4.7% as investors cheered

strong growth at the media group's streaming business.

Videogame publisher Take-Two Interactive Software ( TTWO )

climbed 2.6% as it expects net bookings to grow in fiscal years

2026 and 2027.

Expedia ( EXPE ) advanced 8% after the online travel agency

beat analysts' expectations for second-quarter profit, while The

Trade Desk ( TTD ) added 4.1% after the ad tech firm forecast

third-quarter revenue above analysts' estimates.

Declining issues outnumbered advancers by a 1.08-to-1 ratio

on the NYSE and by a 1.02-to-1 ratio on the Nasdaq.

The S&P 500 posted four new 52-week highs and two new lows,

while the Nasdaq Composite recorded 20 new highs and 51 new

lows.