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Dow jumps more than 300 points propelled by Amazon as July trading winds down: Live updates - CNBC
Business and EconomyBy Liz Napolitano, Hugh Leask, Lee Ying Shan, Yun Li7/31/20261 min read
The major averages rose on Friday, but the Dow Industrials was the only index to post monthly gains in July.
✨ Key Highlights
- The Nasdaq Composite rose 1% to 25,373.85 on Friday, July 31, 2026, while the S&P 500 gained 0.7% to 7,489.72 and the Dow Jones Industrial Average added 276.97 points, or 0.53%, to close at 52,485.03 in the final trading session of July.
- Amazon shares surged 15% after posting better-than-expected second-quarter revenue, buoyed by strength in its cloud-computing business, which bolstered investor confidence in AI spending.
- Apple bucked the trend, dropping more than 7% despite topping fiscal third-quarter revenue expectations and a 22% jump in iPhone sales, as a shortfall in service revenue weighed on the stock.
- Bond yields climbed, with the 30-year Treasury yield reaching its highest level since 2007 at around 5.25%, and the 10-year note topping 4.7%, its highest since January 2025, amid waning investor faith in Fed Chairman Kevin Warsh's inflation efforts.
- US Bancorp Asset Management strategist Terry Sandven described a "roller coaster market filled with angst and opportunity," noting steady inflation and robust earnings alongside risks from Middle East conflict pushing oil prices higher.
- The gains extended a rally from Thursday, when Microsoft jumped 16% on stronger-than-expected Azure cloud growth, marking a recovery from Wednesday's session when the Dow plunged more than 1,100 points; WTI crude settled up 1.3% at $84.67 and Brent rose 1.2% to $90.12.
The major averages were markedly higher Friday, the last trading session in July, as investors looked past rising bond yields and Amazon shares jumped.
The Nasdaq Composite rose 1% to end at 25,373.