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2026.07.3116:42:15UTC+00US Stocks Rebound on Choppy Trading

US equities rebounded in volatile Friday trading, as investors weighed the impact of higher long-term interest rates and renewed turbulence in the AI infrastructure sector. The S&P 500, Dow, and Nasdaq 100 each gained about 0.4%.

Amazon jumped 15% after its cloud-computing business beat expectations, helping to lift sentiment across software names and hyperscalers. Alphabet advanced 6%, while Microsoft and Meta each added nearly 3% as investors revisited the AI trade.

In contrast, Apple slumped 10% after chip shortages pushed up costs and constrained production in the June quarter, weighing on earnings. Weakness extended to other pockets of the market, with Netflix and Eli Lilly each falling about 3%.

In fixed income, the 30-year Treasury yield climbed to a fresh 19-year high on concerns that the FOMC under Kevin Warsh might hold off on further rate hikes despite persistent inflation pressures. In energy, ExxonMobil dropped 3% as limited refinery capacity capped the company’s ability to translate higher crude prices into stronger refining profits last quarter.

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