Wild July Ends with Amazon Surge, Apple Sink, Oil Prices Rise

Wall Street's wild July is coming to an end with more ups and downs. Amazon's stock price skyrocketed, while Apple's sank, and rising oil prices fueled worries about inflation.

The S&P 500 rose 0.7% after a day of seesawing between gains and losses. The Dow Jones Industrial Average was up by 324 points, or 0.6%, with an hour left in trading, while the Nasdaq composite gained 0.9% after earlier losing its initial 1.3% jump.

Rising oil prices are adding to concerns about inflation, which is already squeezing the bond market. The extreme heat warning in parts of the US doesn't seem to have an immediate impact on stock markets, but investors are closely monitoring developments that could affect economic growth and inflation expectations.