Apple’s collapse didn’t ruin Wall Street’s day

Wall Street’s stock indexes rose on Friday, the last day of trading in July, as technology stocks strengthened and Amazon‘s earnings boosted investor sentiment. On the other hand, Apple, which turned out to be a disappointment, fell sharply.

Investors were also not scared by the rise in bond interest rates, which has increased pressure on stock valuations in recent days.

The broad cap-tracking S&P 500 gained 0.7 percent. The technology-focused Nasdaq gained 1.0 percent. The flagship Dow Jones index rose 0.5 percent.

Amazon rose 15 percent after the company’s second-quarter revenue beat expectations. The print was supported by the strength of the company’s cloud services business.

Amazon’s result strengthened investors’ confidence that large AI investments can support the growth of technology companies.

Apple, on the other hand, fell by 8.6 percent. The company’s turnover in the third quarter of the fiscal year exceeded expectations, and iPhone sales increased by 22 percent. Among other things, the share was weighed down by the weaker-than-expected guidance for the next quarter.

According to Bloomberg, the indicator that follows the Magnificent Seven mega-companies rose 3.2 percent. The group of companies that has boosted the stock market for years has lagged behind the broader market this year when investors are evaluating whether large artificial intelligence investments will pay off.

July in the chip sector was weak. According to Bloomberg, chip companies ended their weakest month since 2008.

The interest rate on the US 30-year government bond rose to its highest level since 2007 at 5.26 percent this week. The yield on the 10-year US Treasury bond rose to over 4.7 percent during the day, the highest since January 2025.

US Bancorp Asset Management equity strategist Terry Sandven estimated for CNBC that the approach of the 10-year interest rate to five percent could start to weigh on investor sentiment and stock valuations.

“This is a roller coaster market full of concerns and opportunities,” Sandven told CNBC.

US WTI crude was up 1.1 percent at $84.55 a barrel. Oil recorded its biggest monthly increase since March.

Oil was boosted, for example, by President Donald Trump‘s comment that his trust in Iran’s negotiators is weakening.

The market also evaluated the message from the US central bank Fed. The three Fed decision-makers who opposed Wednesday’s interest rate decision warned that waiting too long in curbing inflation could lead to more aggressive measures later.

July ended in two parts for the indices. According to CNBC, the Dow Jones was barely in the positive in July and recorded its fourth consecutive month of gains. The S&P 500 fell by 0.1 percent and the Nasdaq by 3.2 percent for the month.

At the weekly level, the indices were on the rise. The Dow Jones and the S&P 500 were up by about 0.9 percent, and the Nasdaq Composite had strengthened by about 1.2 percent.

On the New York Stock Exchange, network equipment manufacturer Nokian‘s depository receipt, or ADR, rose 0.6 percent to 9.15 to the dollar.