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Amazon Leads Tech Stocks Higher as Apple Disappoints

Guavy AI Editorial Team
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AAPL AMZN
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US stock markets closed higher on Friday, marking the second consecutive day of gains after stocks plunged to multi-month lows on Wednesday due to rate hike speculation.

The Dow Jones Industrial Average rose 0.5%, while the S&P 500 gained 0.7% and the Nasdaq jumped 1.0%.

Amazon's strong quarterly earnings, driven by growth in its cloud business, helped lift tech stocks despite Apple's decline of 7% after missing revenue expectations for the current quarter due to supply constraints.

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