Finance

A distinct divergence emerged among technology heavyweights following recent quarterly earnings disclosures. Amazon shares soared over 15% after reporting better-than-expected spring profits fueled by accelerating growth in its cloud-computing division, easing fears over massive artificial intelligence expenditures. Conversely, Apple shares plummeted 7.4% as a lackluster revenue growth forecast and weak performance in its services and China segments dragged its market capitalization down by over $350 billion.

Selling pressure in the bond market intensified at the end of the week, driving U.S. Treasury yields significantly higher. The benchmark 10-year Treasury yield advanced to 4.75%, reaching its highest level since early 2025, while the 30-year bond yield hit a new multi-decade high near 5.27%. The upward movement followed the Federal Reserve's decision to leave interest rates unchanged, which heightened investor worries that inflation could remain elevated for longer.

Global energy benchmarks ticked upward to close out July due to recurring commercial shipping disruptions in the Middle East. Brent crude climbed past $90 a barrel, while West Texas Intermediate settled higher near $84.67 a barrel following escalated military tensions between the United States and Iran. These elevated energy prices have pushed domestic gasoline costs higher and compounded inflation concerns, casting a shadow over broader market resilience.