Amazon Soars as Apple Tanks Amid Oil Price Worries

The US stock market experienced a wild ride on Friday as Amazon's strong earnings report sent its stock soaring, while Apple's results fell short of expectations. The Dow Jones Industrial Average rose 221 points to a 0.4% gain after fluctuating between an earlier high and low.

Amazon's share price increased by 15.2%, more than tripling the company's profit from last year thanks to its cloud computing business growth. This has led analysts to speculate that Amazon's significant investments in artificial intelligence technology are paying off.

The S&P 500 also saw a 0.4% increase after initially veering between gains and losses throughout the day. However, Apple's stock fell by 9.6%, despite reporting higher profits than expected, due to its lower-than-anticipated growth forecast for the current quarter.