U.S. stocks rallied to the finish of a wild July as Amazon leaped, Apple sank and rising oil prices worsened worries about inflation.
The S&P 500 climbed 0.7% Friday after veering between gains and losses through the day. The Dow Jones Industrial Average added 0.5%, and the Nasdaq composite jumped 1%.
Amazon soared after delivering a stronger profit for the spring than analysts expected, suggesting its big AI investments may be paying off. Apple dropped after giving a lackluster forecast for upcoming revenue growth. Treasury yields climbed as worries built in the bond market about inflation potentially remaining high.
On Friday:
The S&P 500 rose 52.09 points, or 0.7%, to 7,489.72.
The Dow Jones Industrial Average rose 276.97 points, or 0.5%, to 52,485.03.
The Nasdaq composite rose 251.68 points, or 1%, to 25,373.85.
The Russell 2000 index of smaller companies fell 14.76 points, or 0.5%, to 2,931.34.
For the week:
The S&P 500 is up 77.74 points, or 1%.
The Dow is up 537.78 points, or 1%.
The Nasdaq is up 398.03 points, or 1.6%.
The Russell 2000 is up 1.34 points, or less than 0.1%.
For the year:
The S&P 500 is up 644.22 points, or 9.4%.
The Dow is up 4,421.74 points, or 9.2%.
The Nasdaq is up 2,131.86 points, or 9.2%.
The Russell 2000 is up 449.43 points, or 18.1%.
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