US Stocks: Amazon Soars, Apple Slides on Friday, July 31, 2026

Market Wrap

The US stock market experienced a mixed close on Friday, July 31, 2026, with the major indices showing divergent performance depending on the source. According to Reuters, the S&P 500 rose 0.60%, the Nasdaq advanced 0.83%, and the Dow Jones Industrial Average gained 0.54%. In contrast, the Wall Street Journal reported that the S&P 500 gained 0.75%, the Nasdaq Composite increased by 1.07%, and the Dow Jones Industrial Average rose 0.54%. Another Wall Street Journal report indicated slightly different figures, with the S&P 500 up 0.77%, the Nasdaq up 0.99%, and the Dow up 0.66%. CNBC and one of the Reuters sources, however, provided a contrasting view, stating the S&P 500 declined 1.52%, the Nasdaq fell 1.74%, and the Dow dropped 2.19%. These conflicting reports highlight a degree of uncertainty regarding the precise daily performance of the broader market indices, though the general trend for some tech stocks was positive.

Key movers included Amazon, which surged 15% after reporting its biggest quarterly revenue growth in over four years, driven by its AWS cloud segment. This performance helped bolster investor confidence in AI-related stocks. Conversely, Apple shares declined following its results, which disappointed investors due to supply chain issues.

What Drove It

The primary driver for the day's market activity was a mixed bag of corporate earnings and persistent macroeconomic concerns, particularly surrounding interest rates. Amazon's robust quarterly report, showcasing strong growth in its AWS cloud computing division, contributed to a positive sentiment among investors towards AI-related companies. This was echoed by Microsoft's performance, which also drew investors back into the AI trade with strong earnings.

However, a cloud of uncertainty lingered regarding future interest rate hikes. The US 10-year Treasury yield reached 4.739%, its highest level since January 2025, according to Reuters. The Wall Street Journal reported the 10-year yield at 4.721% or 4.740% in different reports. CNBC reported the 10-year yield at 4.687%. Traders are pricing in a 69% probability of a Federal Reserve rate increase at the September meeting. This anticipation of higher rates was fueled by fears that rising oil prices could contribute to inflation.

Geopolitical factors also played a role, with currency markets remaining alert for further intervention a day after Japanese authorities reportedly stepped in to support the yen.

Sector Highlights

Technology stocks, particularly those linked to artificial intelligence, saw positive momentum due to strong earnings from companies like Amazon and Microsoft. Amazon's 15% surge demonstrated investor confidence in its cloud growth. However, not all tech performed well, as Apple's shares declined due to supply chain snags affecting its outlook. The specific performance of other sectors was not detailed in the provided sources.

Precious Metals & Commodities

In precious metals, gold experienced a decline. The Wall Street Journal reported gold was down 1.19% to $4111.00, or 1.35% to $4104.30. Another Wall Street Journal report noted gold was down 1.18% to $4111.60. Conversely, CNBC reported gold gained 0.66% to $4065.50.

Crude oil prices advanced. The Wall Street Journal reported crude oil rose 1.41% to $84.77 or 1.46% to $84.81. Another Wall Street Journal report indicated a 0.71% rise to $84.18. CNBC reported oil gained 6.74% to $84.60.

The US Dollar Index (DXY) saw minor fluctuations. The Wall Street Journal reported the Dollar Index down 0.02% to 96.27 or down 0.04% to 96.26. Another Wall Street Journal report showed the Dollar Index up 0.17% to 96.45.

The US 10-year Treasury yield rose to new multi-year highs, reaching 4.739% (Reuters) or 4.721% / 4.740% (Wall Street Journal) or 4.687% (CNBC).

What to Watch Tomorrow

The provided sources do not specify any particular earnings reports, data releases, or events scheduled for Saturday, August 1, 2026.

Bottom Line

Today's trading session reflected a market grappling with strong individual company performances, particularly in the tech sector, alongside broader concerns about inflation and the Federal Reserve's potential interest rate actions. Long-term investors should continue to focus on company fundamentals and the evolving macroeconomic landscape, as market volatility may persist amid conflicting signals.

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