Wall Street finished the day on a positive note, with the S&P 500 and Nasdaq closing higher despite a few falling stocks. The gains were largely driven by strong earnings from tech giants and a surge in trading volume.
Amazon.com jumped over 15% after reporting its biggest quarterly revenue growth in more than four years. The company’s strong numbers helped calm fears that its heavy spending on AI data centers might not pay off quickly.
Investors had worried that Amazon’s large investments in AI could be “moonshot” spending. CEO Andy Jassy’s results, along with Microsoft’s similar report, eased those concerns and boosted confidence in AI‑related stocks.
Apple’s shares fell 7.4% after the company warned that supply constraints would hurt growth. The news added to worries that recent price hikes for iPhones could weaken consumer demand.
Microsoft also saw gains, rising 3% after forecasting stronger‑than‑expected cloud growth. Monolithic Power Systems added over 8% after forecasting third‑quarter revenue above estimates.
The S&P 500 climbed 0.70% to 7,489.72 points, while the Nasdaq gained 1% to 25,373.85 points. The Dow Jones Industrial Average rose 0.53% to 52,485.03 points.
For the week, the S&P 500 added 1.05% and the Nasdaq rose 1.59%. The S&P 500 ended July almost flat from June, and the Nasdaq fell 3.2% for the month, though both have gained about 9% in 2026.
Three Federal Reserve officials who opposed the latest policy meeting called for immediate action to bring inflation down to the 2% target. The 2‑year Treasury yield rose 5.4 basis points to 4.28%.
Markets priced in a 65% chance of a rate hike at the Fed’s September meeting, down from 82% a week ago. Domain registrar GoDaddy fell almost 17% after narrowing its annual revenue forecast.
The S&P 500 recorded four new highs and four new lows, while the Nasdaq logged 52 new highs and 131 new lows, reflecting a mix of gains and corrections across the market.