Amazon Soars, Apple Falls as U.S. Stocks Close Out Wild Month

The U.S. stock market finished July with a mixed bag of results, as Amazon's surprise profit increase led to a 15.3% jump in its shares, while Apple dropped 7.4% due to lower-than-expected revenue growth.

Despite the fluctuations, the S&P 500 rose 0.7%, and the Dow Jones Industrial Average added 276 points, or 0.5%. The Nasdaq composite rallied 1% after briefly losing its early gains.

The market's performance was affected by various factors, including concerns about inflation, higher oil prices, and the impact of artificial intelligence investments on Big Tech companies.