US STOCKS-Wall Street Ends Higher as Amazon Soothes AI Jitters
Amazon’s biggest quarterly revenue growth in over four years eased fears of costly AI data-center spending, lifting major indexes despite Apple’s drop.
- Wall Street ended higher on Friday, July 31, 2026, lifted by Amazon as the tech heavyweight's strong quarterly report bolstered investor confidence in AI-related stocks, while Apple dropped after disappointing results.
- Worries that heavy investments in AI infrastructure may be taking too long to pay off rattled global markets this month, causing doubts about companies at the center of Wall Street's rally.
- Amazon posted its biggest quarterly revenue growth in over four years, with CEO Andy Jassy addressing fears that infrastructure spending was irresponsible or just "moonshot" spending.
- The S&P 500 gained 0.70% and the Nasdaq Composite rose 1.01%, while domain registrar GoDaddy dropped almost 17% after narrowing its annual revenue forecast.
- According to CME FedWatch, markets are pricing in a 65% chance of a rate hike at the Fed's September meeting, down from 82% a week ago but up slightly from 63% on Thursday.
10 Articles
10 Articles
Amazon reports strong sales and thus wipes aside concerns about high AI investments. US investors fall on the stock. Apple, on the other hand, is facing a noticeable decline due to concerns about chip bottlenecks.
The Billings Gazette
Wall Street ends higher as Amazon soothes AI jitters
Wall Street ended higher Friday, lifted by Amazon as the tech heavyweight's strong quarterly report bolstered investor confidence in artificial intelligence-related stocks, while Apple dropped after its results disappointed investors.
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Wall Street Advances as Amazon Earnings Boost AI Confidence Despite Apple Selloff
Wall Street's major indexes moved higher on Friday as investors welcomed a strong earnings report from Amazon, easing concerns about the massive investments technology companies are making in artificial intelligence. Gains in several large technology stocks helped lift the broader market, although a sharp decline in Apple limited advances in the technology sector.
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