Finance

Corporate earnings reports from two technology heavyweights sent their respective stock prices in opposite directions. Amazon shares surged nearly 16% on the back of strong cloud-computing performance, helping to mitigate fears about massive artificial intelligence capital expenditures. Conversely, Apple shares plummeted more than 7% after providing a underwhelming revenue growth forecast plagued by upcoming supply headwinds.

Long-term U.S. Treasury yields pushed higher as bond market participants weighed persistent inflationary risks and geopolitical tensions with Iran. The yield on the 10-year U.S. Treasury note climbed to 4.743%, marking its highest level since January 2025, while the 30-year yield reached a 19-year high. Market anxiety was further fueled by three Federal Reserve officials dissenting in favor of higher rates during the recent policy meeting.

Cryptocurrency markets experienced a sharp downturn to close out July, contrasting with the late-week rally seen in traditional equities. Bitcoin shed roughly $3,000 within a 12-hour window, dropping below the $63,000 threshold and erasing $100 million in leveraged long positions. The digital asset space faced downward pressure from a combination of cooling investor risk appetite, macroeconomic rate anxieties, and stalled progress on key congressional regulatory legislation.