{"id":4709,"date":"2026-08-01T17:08:22","date_gmt":"2026-08-01T17:08:22","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=4709"},"modified":"2026-08-01T17:08:22","modified_gmt":"2026-08-01T17:08:22","slug":"stocks-finish-wild-month-with-amazon-rising-apple-sinking-and-seouls-best-day-ever-resulting-in-a-22-loss","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=4709","title":{"rendered":"Stocks finish wild month with Amazon rising, Apple sinking and Seoul\u2019s best day ever resulting in a 22% loss"},"content":{"rendered":"
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The S&P 500 climbed 0.7% after veering between gains and losses through the day. The Dow Jones Industrial Average added 276 points, or 0.5%, and the Nasdaq composite rallied 1% after briefly losing all of an early 1.3% jump.<\/p>\n

Read more \u2018People are realizing August is a crapshoot here\u2019: Climate change means the U.S. west is closing rivers for fishing half the time<\/a><\/p>\n

It\u2019s a fitting finish to July for the U.S. stock market, which lurched\u00a0up\u00a0and\u00a0down\u00a0as oil prices shot higher because of the\u00a0war with Iran\u00a0and worries grew about whether Big Tech\u2019s massive investments in\u00a0artificial-intelligence technology\u00a0will translate into profits and whether\u00a0chipmaker stocks\u00a0soared too high in the euphoria around AI.<\/p>\n

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Friday\u2019s gains sent the S&P 500 to its first winning week in three, but the main measure of the U.S. stock market nevertheless finished the month with a tiny loss.<\/p>\n

Amazon led the market with a leap of 15.3% after reporting much stronger profit for the latest quarter than analysts expected. Its profit more than tripled from a year earlier, thanks in part to an acceleration of growth in its cloud computing business.<\/p>\n

Analysts said that could be a signal Amazon\u2019s huge AI investments are paying off, and Amazon increased its forecast for how much it will spend on investments this year.<\/p>\n

The reaction was similar to what\u00a0Microsoft\u00a0got a day before, when its stock soared to its best day in nearly 18 years on signals that its AI investments may also be yielding higher profits.<\/p>\n

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Chip companies selling the processors and computer memory that such \u201chyperscalers\u201d are scrambling to buy swung sharply again on Friday. Micron Technology, for example, went from an early jump of 6.4% to a loss of 6.5% before finishing with a fall of 5.9%.<\/p>\n

More firmly on the losing end of Wall Street was\u00a0Apple, which dropped 7.4% despite reporting stronger profit for the latest quarter than expected. Its forecast for revenue growth in the current quarter fell short of expectations, which executives pinned on a supply crunch in components getting vacuumed up in the AI boom.<\/p>\n

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All told, the S&P 500 rose 52.09 points to 7,489.72. The Dow Jones Industrial Average added 276.97 to 52,485.03, and the Nasdaq composite climbed 251.68 to 25,373.85.<\/p>\n

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The gains came despite another rise in oil prices as uncertainty continues about when the\u00a0war with Iran\u00a0will allow crude to flow freely again from the Middle East.<\/p>\n

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The price for a barrel of Brent crude rose 1.2% to settle at $87.93 after careening between $72 and $102 earlier in July.<\/p>\n

Higher oil prices have pushed the cost for a gallon of regular gasoline to an average of nearly $4.11 across the United States, up from $3.85 a month ago, according to AAA. More expensive oil also puts upward pressure on prices for virtually every product that rides on a ship, plane or truck before getting to a customer.<\/p>\n

Read more Gavin Newsom has been earning up to $2 million per year since 2022, records show<\/a><\/p>\n

The worries about inflation sent yields in the bond market even higher.<\/p>\n

The yield on the 10-year Treasury rose to 4.71% from 4.68% late Thursday and from just 3.97% before the war with Iran sent oil prices shooting higher. That\u2019s a notable move for the yield, which moves higher when investors\u2019 expectations for inflation, economic growth and other factors in upcoming years are rising.<\/p>\n

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The leap for the 10-year yield has already sent the average long-term U.S.\u00a0mortgage rate to its highest level\u00a0in a year.<\/p>\n

Longer-term yields jumped on Wednesday after the Federal Reserve\u2019s chairman, Kevin Warsh, promised again to get inflation back down to 2% but refused to say how he plans to get it there. The\u00a0Fed voted again to keep its main interest rate steady\u00a0on Wednesday, even though inflation remains well above 2%.<\/p>\n

Hikes to rates by the Fed could restrain inflation, but they could also\u00a0slow the economy and undercut prices\u00a0for stocks and other investments.\u00a0President Donald Trump, who nominated Warsh to lead the Fed, has lobbied for lower interest rates instead of higher.<\/p>\n

Warsh has told financial markets that he does not want to give hints about what the Fed will do with interest rates, saying he wants to get direct, \u201cunfiltered\u201d messages from them rather than echoes back of what the Fed has suggested.<\/p>\n

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But \u201cwithout clarifying why action was or wasn\u2019t taken already, it\u2019s hard to see how statements about being committed to hitting its inflation target aren\u2019t just a bluff,\u201d according to Brian Jacobsen, chief economic strategist at Annex Wealth Management.<\/p>\n

\u201cThe Fed is facing a growing credibility problem,\u201d economists at Bank of America wrote in a report. Unless data comes in showing less pressure on inflation in the interim, \u201cit is imperative for the Fed to pass the September test by hiking rates and delivering an internally consistent narrative.\u201d<\/p>\n

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In stock markets abroad, the swings were even wilder for chip stocks.<\/p>\n

Seoul\u2019s Kospi index soared 17.9% for its best day in history. The index is dominated by two tech giants, Samsung Electronics and\u00a0SK Hynix, and both surged at least 26.8% on Friday.<\/p>\n

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The Kospi, though, still lost 22% in July despite Friday\u2019s historic move. That\u2019s after it more than doubled in the first six months of the year.<\/p>\n

___<\/p>\n

AP Business Writers Chan Ho-him and Elaine Kurtenbach contributed to this report.<\/p>\n

Read more A dead SpaceX rocket that\u2019s been adrift for over a year is about to slam into the moon, carving out a new crater with the equivalent of 3 tons of TNT<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Amazon’s profit tripled while Apple’s supply crunch spooked investors, as oil and inflation fears kept Wall Street on edge all July.<\/p>\n","protected":false},"author":1,"featured_media":4708,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-4709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"yoast_head":"\nStocks finish wild month with Amazon rising, Apple sinking and Seoul\u2019s best day ever resulting in a 22% loss - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=4709\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stocks finish wild month with Amazon rising, Apple sinking and Seoul\u2019s best day ever resulting in a 22% loss - 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