Amazon Soars on Strong Earnings, But Inflation Worries Persist

The US stock market is experiencing wild swings in July, with Amazon surging 13.8% after reporting stronger-than-expected quarterly profits.

The company's profit more than tripled from a year ago, driven by growth in its cloud computing business and investments in artificial-intelligence technology.

However, worries about inflation are still prevalent, with rising oil prices adding to concerns that the Federal Reserve will raise interest rates to combat inflation.

The yield on 10-year Treasury bonds jumped to 4.73% from 4.68% late Thursday, pushing up mortgage rates and putting pressure on stocks and other investments.