Tech Stocks Soar on Earnings, But Bond Yields Hit Multi-Year Highs

US stocks rose on Friday as strong earnings from Amazon and Microsoft drew investors back into the AI trade, while longer-dated Treasury yields hit new multi-year highs on fears that rising oil prices could fuel inflation.

The Dow Jones Industrial Average rose 0.53% to 52,485.74, the S&P 500 gained 0.70% to 7,489.81 and the Nasdaq Composite ended up 1.00% at 25,373.85.

Microsoft forecast strong cash generation through fiscal 2027, while Amazon reported its strongest cloud growth in more than four years, reassuring investors eager for proof that massive AI spending is paying off.