Stocks Close Out a Volatile July Higher as Amazon Surges, Yields Spike

Wall Street ended July on a strong note Friday. The Nasdaq rose 1% to 25,373.85, the S&P 500 added 0.7% to 7,489.72, and the Dow gained about 277 points to 52,485.03, notching its fourth straight monthly advance.

Amazon's strong second-quarter results powered the session, offsetting a slide in Apple after a disappointing sales outlook. The gains came despite a sharp rise in bond yields: the 10-year Treasury topped 4.7%, its highest since January 2025, and the 30-year hit levels last seen in 2007.

For investors, the month closed with a split picture — resilient earnings from big tech and industrials against a rate backdrop that keeps pressure on valuations heading into August.