US Stocks Surge in July Close

The US stock market ended July on a high note, with tech stocks leading the gains. The Nasdaq Composite index rose by 1.21% to close at 25,425.23, while the S&P 500 index increased by 0.91% to 7,505.90.

The Dow Jones Industrial Average also gained 0.71% to end at 52,576.13. Amazon was a major contributor to the rally, surging 13% on better-than-expected cloud growth and optimism about gains from AI investments.

However, high treasury yields constrained gains, with the 10-year Treasury yield rising to over 4.7% and the 30-year yield reaching its highest level in several years.