Finance

Amazon shares experienced a dramatic surge of nearly 15% after reporting explosive profit growth fueled by an acceleration in its cloud computing division. Conversely, Apple shares tumbled roughly 9% during the same session due to underwhelming performances in its China market and services revenue alongside supply-chain bottlenecks.

Bond yields experienced sharp upward momentum after Federal Reserve officials publicly explained their recent dissenting votes in favor of raising interest rates. The yield on the benchmark 10-year U.S. Treasury note breached 4.73%, reaching its highest intraday level since January 2025, which has pushed average long-term fixed mortgage rates up as well.

Bitcoin and Ether prices diverged from the broader equities market, retreating downward on the final day of July. The digital asset space was weighed down by cooling legislative expectations surrounding the CLARITY Act, disappointing corporate earnings from top crypto platforms, and a massive options expiration totaling over $10 billion.