The Nasdaq Composite led Wall Street's gains on Thursday, July 30, 2026, as a significant rally in Amazon shares helped offset a decline in Apple's stock. This market movement occurred following a period of volatility, with investors assessing corporate earnings and ongoing inflation concerns.
Amazon. com reported robust second-quarter earnings that surpassed analyst expectations, driven by strong performance in its cloud computing business, Amazon Web Services (AWS), and increased demand for artificial intelligence services. The company announced revenue growth of 20% year-over-year to $200.6 billion and a profit of $5.75 per share, significantly beating forecasts. This strong showing, particularly in its cloud division which saw revenue jump 37% to $42.2 billion, contributed to a post-earnings surge in its stock.
In contrast, Apple experienced a dip in its stock price despite also delivering better-than-expected results for its fiscal third quarter. The company reported revenue of $109.4 billion, up 16% year-over-year, with diluted earnings per share of $2.02. While these figures met or exceeded expectations, forward-looking guidance was impacted by supply constraints and a warning of potential impacts from an expected iPhone price hike. This divergence between Amazon's post-earnings optimism and Apple's cautionary outlook contributed to the Nasdaq's performance.
The broader market showed signs of recovery after recent downturns, with the S&P 500 and Dow Jones Industrial Average also posting gains. However, underlying concerns about inflation persisted, as indicated by remarks from Federal Reserve Chair Kevin Warsh regarding interest rates and economic conditions. The mixed signals from major tech companies and ongoing macroeconomic factors continue to shape investor sentiment.
