Amazon Soars as Apple Sinks in Wild Finish to Turbulent July

US stocks wrapped up a turbulent July on Friday with mixed results, as Amazon's surprise profit boost and Apple's disappointing forecast offset each other.

The S&P 500 climbed 0.7% after volatile trading throughout the day, while the Dow Jones Industrial Average added 276 points (0.5%) and the Nasdaq composite surged 1%.

Amazon led the charge with a 15.3% jump following its stronger-than-expected quarterly profit report, which more than tripled from a year ago due in part to its cloud computing business growth.

However, Apple's shares fell 7.4% despite beating earnings expectations, as its revenue forecast for the current quarter fell short of analysts' estimates.