The S&P 500 closed higher on Friday, its final trading day of July, as investors shrugged off rising bond yields, largely driven by a significant surge in Amazon shares. The Dow Jones Industrial Average also marked its fourth consecutive winning month.
The Nasdaq Composite rose 1%, the S&P 500 gained 0.7%, and the Dow Jones Industrial Average added 0.53%. This upward movement occurred despite a spike in Treasury yields, with the 30-year Treasury yield reaching its highest point since 2007.
The major averages ended Friday on a higher note, marking the final trading session of July. Investors largely looked past rising bond yields, buoyed by a significant surge in Amazon shares.
The Nasdaq Composite climbed 1%, closing at 25,373.85. The S&P 500 added 0.7% to finish at 7,489.72, while the Dow Jones Industrial Average gained 276.97 points, or 0.53%, reaching 52,485.03.
Bond yields saw a notable increase this week, with the 30-year Treasury yield spiking to its highest levels since 2007. The 10-year Treasury note yield topped 4.7% for the first time since January 2025.
These market movements occurred amidst investor concerns about Federal Reserve Chairman Kevin Warsh's commitment to controlling inflation. Warsh's statement, "We've got no magic wand," added to the uncertainty.
Terry Sandven, chief equity strategist at US Bancorp Asset Management, commented that "As [the yield for 10-year Treasury bonds] moves toward five percent, five percent is perhaps a level that will cause angst for sentiment and pressure valuations." He described the current market as a "roller coaster market filled with angst and opportunity," noting steady inflation and robust earnings on one hand, but also Middle East conflict driving oil prices higher on the other.
West Texas Intermediate crude futures rose about 1.3% to settle at $84.67 a barrel, while Brent futures advanced 1.2% to $90.12 a barrel.
Stocks close higher
The three major indexes closed higher on Friday.
The Dow Jones Industrial Average advanced 0.53%, or about 276.97 points, to finish at 52,485.03. The S&P 500 settled up 0.7% to 7,489.72, while the Nasdaq Composite surged 1% to end the session at 25,373.85.
— Liz Napolitano
Semiconductor ETF on pace for worst month since 2008
Semiconductors are on pace for their worst month since 2008, in spite of Friday's gains. The VanEck Semiconductor ETF (SMH) was last lower by 16.9% month to date.
— Sarah Min
SPCX lost 36% of its value in the last month
— Ananya Chetia
Microsoft shares on pace for best month since October 2007
"Magnificent Seven" darling Microsoft is tracking for its best month in almost 19 years.
Following the company's post-earnings surge on Thursday, and additional gains on Friday, the stock is now on track to rise more than 20% in July. That's the biggest rise in a single month since October 2007 for shares of Microsoft.
As of Wednesday, Microsoft was only up just over 1.5% on the month, but the stock surged 15% on Thursday following the company's fiscal fourth-quarter earnings report. Investors came away from that report more confident in Microsoft's artificial intelligence strategy.
Microsoft added to those gains on Friday, up another 2.5%.
— Davis Giangiulio
Nasdaq-100 records its worst month since March 2025
The Nasdaq-100 fell approximately 7% in July, recording its steepest monthly decline since March 2025, when it lost 7.69%.
The index previously declined 4.89% in March 2026 and 2.32% in February but both those losses were followed by sharp rebounds of 15.64% in April and 10.49% in May this year. The momentum, however faded with a 0.19% decline in June, before falling to 6.95% in July.
Uncertainty surrounding the war in Iran, volatile oil prices, a hawkish Federal Reserve, and a sharp semiconductor sell-off weighed on the tech-heavy index. Investors have been concerned about the lofty tech valuations and whether surging AI spending will generate adequate returns.
— Deena Zaidi
Dollar drops against the yen
— Tobias Burns
Energy Democrats demand information on Trump and Lutnick families’ ties to critical mineral deals, report says
— Spencer Kimball
ExxonMobil and Chevron's shares move on second-quarter results
— Spencer Kimball
Novo Nordisk shares plummet on drug trial results
— Elsa Ohlen
Replimune shares jump after skin cancer drug approved
— Michelle Fox
Women CEO ETF hits intraday all-time high
— Michelle Fox
Sentiment improves in University of Michigan consumer survey
—Jeff Cox
Stocks open higher
— Liz Napolitano
Employment costs up 0.9% in Q2, higher than expected
—Jeff Cox
Moderna pulls back after reporting latest earnings
— Liz Napolitano
Jersey Mike’s rises after falling below IPO price during debut
— Davis Giangiulio
Here's the latest ahead of the opening bell on Wall Street
— Joseph Wilkins
Here are the companies moving in premarket trading
— Sawdah Bhaimiya
UK's FTSE 100 hits fresh all-time high
Investors continue to climb the wall of worry and sentiment improves. The rebound in tech powered by Microsoft's extremely well-received numbers has helped lift the broader market mood, helping investors to put concerns about the Iran conflict and its continuing impact on ice for now.
Defense stocks rally on earnings; Leonardo rises 3% after hiked guidance
— Elsa Ohlen
NatWest CFO says bank has recruited more graduates this year because of AI
Universal Music Group trading halted after shares plunge to 52-week low
Kospi clocks best day as chip rally lifts Asia markets
— Lee Ying Shan
European markets open higher
— Hugh Leask
BP announces exit from North Sea oil business
— Hugh Leask
Bank of Japan keeps rates steady, warns core inflation might exceed 2% target
—Lim Hui Jie
Alimentation Couche-Tard to acquire Poland's Zabka Group in a deal valued at $8.6 billion
—Jenny Lee
European stock markets set for a positive start
— Hugh Leask
Oil prices ease as recovering Hormuz Strait traffic tempers war premium
—Lee Ying Shan
Mitsubishi Materials shares rise over 5% on investment in German subsidiary
—Jenny Lee
HSBC's Hong Kong shares hit record high after Australia portfolio deal with Blackstone
—Justina Lee
China’s factory activity unexpectedly contracts in July as export rush fades
—Anniek Bao
SK Hynix shares surge 25%, while Samsung soars over 20% as AI rally roars back
—Lee Ying Shan
South Korea's Kospi surges 14%, leads Asia rally as chip stocks soar
—Lee Ying Shan
Asia markets set to rise after Wall Street rebound
— Lee Ying Shan
Stocks making moves after hours
— Yun Li
Individual investors stay uncharacteristically bearish for a 25th week
— Scott Schnipper
Strong crack spreads send four refining stocks to all-time highs Thursday
— Scott Schnipper
