Amazon Surges 15.3% as Oil Prices Soar and Inflation Fears Mount

The US stock market finished July with a mixed bag of performances, as Amazon's earnings sent its stock soaring by 15.3% while Apple's revenue forecast fell short of expectations.

Amazon's strong profit report for the latest quarter more than tripled from a year earlier, thanks in part to growth in its cloud computing business.

The S&P 500 rose 0.7%, with the Dow Jones Industrial Average adding 276 points and the Nasdaq composite climbing 1% after briefly losing an early 1.3% jump.