Amazon Drives Dow to New Heights Amid Oil Price Gains

The Dow Jones Industrial Average rose 367.07 points or 0.70% to close at 52,575.13 on Friday, driven by strong earnings from Amazon and other tech stocks.

The S&P 500 Index was up 0.83% to end the day at 7,498.92, while the Nasdaq Composite Index surged 1.06% to close at 25,387.48.

Amazon's cloud computing services reported $42.23 billion in quarterly revenues, exceeding expectations and pushing its stock up around 13-15%. Apple stock, on the other hand, fell over 9%, weighing down the market.

The rise in oil prices due to Middle East tensions also contributed to the gains, with Brent Crude reaching above $88 per barrel. However, this increase is a concern for inflation and may put pressure on interest rates, which could negatively impact growth-oriented tech stocks.