Market
Wall Street ends higher as Amazon soothes AI jitters
Yahoo2026.07.31
STORY: Wall Street ended higher on Friday, with the Dow adding more than half a percent, the S&P 500 gaining seven-tenths of a percent and the Nasdaq climbing one percent.:: AmazonAmazon surged more than 15% after the tech giant posted its biggest quarterly revenue growth in over four years. Its results, along with a similar report from Microsoft this week, alleviated investor concerns about potential overspending on AI data centers.Meanwhile, shares of Apple tumbled more than 7% after a disappointing forecast showed that the iPhone maker was struggling to secure enough components, as the AI-driven data center boom strains global supply chains.Friday marked the end of a bumpy week for stocks that included a Fed policy meeting in which the central bank left rates unchanged - but with three dissenters pushing for a 25 basis point hike.Dean Smith is chief strategist & portfolio manager at FolioBeyond."I think there was a decent case to be made that a hike is in order. Inflation, we had a slightly softer print on the most recent one, but inflation is now running well above Fed's 2% stated target. It's higher now than it was a year ago and it seems to be reaccelerating. [FLASH] So it was a close call probably, but I think, you know, if I had been on that voting committee, I would have voted for a rate hike as well.":: ArchiveOther stocks on the move Friday included Monolithic Power Systems, which rose more than 8% after forecasting third-quarter revenue above estimates.But shares of GoDaddy slid nearly 17% after the domain registrar narrowed its annual revenue forecast.