Amazon earnings lift AI stocks
Analysis based on 40 articles · First reported Jul 30, 2026 · Last updated Aug 02, 2026
The strong earnings from Amazon and Microsoft reassured investors about AI-related spending, boosting tech and chip stocks and lifting major indexes. However, Apple's decline and persistent inflation worries, along with rising oil prices and Treasury yields, kept gains in check and highlighted ongoing market volatility.
On July 31, 2026, Wall Street ended higher as Amazon's strong quarterly report, showing its biggest revenue growth in over four years and tripled profit, eased investor concerns about AI infrastructure spending. Amazon's stock surged over 13%, and its CEO Andy Jassy reassured investors about the company's AI investments. Microsoft also gained after its own strong cloud results, while Apple fell over 9% after warning of supply constraints and disappointing investors. Chipmakers like Micron Technology and AMD rose, and South Korea's KOSPI soared 17.9% for its best day ever, led by Samsung Electronics and SK Hynix. However, the PHLX Semiconductor Index remained down over 20% from its June high, and the S&P 500 and Nasdaq were near flat or down for July. Oil prices rose due to Middle East tensions, pushing Treasury yields higher. United States — Federal Reserve officials dissented in favor of a rate hike, and markets priced in a 65% chance of a September hike. GoDaddy and SpaceX fell on their own news.
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