Finance

Varying corporate earnings reports sparked distinct shifts across sector performances at the close of the month. Amazon surged roughly 15% after reporting robust cloud-computing sales, which effectively offset a 7.4% decline in Apple shares triggered by a lackluster revenue outlook. Earlier in the week, Microsoft also injected confidence back into the artificial intelligence trade by recording its largest single-day gain ever on the back of resilient quarterly results.

The bond market faced downward pricing pressure, driving the 10-year Treasury yield to its highest point since early 2025 at 4.743%. This move came after the Federal Reserve opted to leave its benchmark interest rate unchanged, prompting three committee members to break ranks and vote for a hike. The internal resistance at the central bank highlighted deepening anxieties over persistent inflation and an extended period of high borrowing costs.

Escalating military conflict between the United States and Iran has sparked dramatic fluctuations in the energy sector, pushing West Texas Intermediate crude back above $85 a barrel. Overall, domestic oil prices surged by 21% throughout the month of July due to persistent concerns surrounding shipping stability in the Middle East. This rapid spike in energy costs has immediately filtered through to U.S. consumers, driving average retail gasoline prices up to $4.11 per gallon.