Nasdaq Rides Amazon Surge to Higher Open

The Nasdaq composite index opened higher on July 31, driven by Amazon's significant surge. The tech giant saw its stock jump by 12% after reporting strong cloud revenue growth, which eased concerns about AI returns.

This boost from Amazon offset the decline in Apple shares, contributing to a positive opening for the Nasdaq. The Dow Jones Industrial Average also rose, increasing by 27 points or 0.05%, to 52,235.03 at the open.

The S&P 500 index followed suit, rising by 24.5 points or 0.33%, to 7,462.13 at the opening bell. The Nasdaq composite itself rose by 218.5 points or 0.87% to 25,340.711.