Yahoo Finance
US stocks were volatile on Friday, after the 10-year Treasury yield (^TNX) jumped to its highest level since January 2025 and Big Tech giants reported continued investments in artificial intelligence.
The tech-heavy Nasdaq Composite (^IXIC) rose roughly 1%, after rising as much as 1% following a jump in South Korea's KOSPI (^KS11) index.
The Dow Jones Industrial Average (^DJI) rose 0.6%, while the S&P 500 (^GSPC) also added 0.7%.
Stocks wavered as investors sold 10-year Treasurys, pushing the 10-year yield (^TNX) to 4.73%, its highest in over a year, as investors continue to assess the Fed's decision to hold rates steady with a lack of forward guidance.
Following Microsoft's (MSFT) historic 15% stock rally, shares of Amazon (AMZN) and Apple (AAPL) also swung after delivering earnings on Thursday.
Amazon stock jumped 13% after itsearnings beat expectationsand its chip business expanded, while Apple stock fell 9%, as its Services and China revenuecame up short.
The latest quarterly results from the "Magnificent Seven" companies showed that Big Tech continues to invest in AI, reassuring tech investors who had grown fearful of a slowdown in AI and higher interest rates.
The four hyperscalers (Amazon, Microsoft, Meta (META), and Alphabet) forecast spending $720 billion to $745 billion cumulatively on capital projects in 2026.
Also on the earnings front, a slew of oil companies, including ExxonMobil (XOM) and Chevron (CVX), reported windfalls in Q2, as the US-Iran war and the subsequent energy shock have kept oil prices elevated.
However, scheduled maintenance costs ate into Exxon's bottom line, leadingearnings to miss expectations.
Oil pricesturned higheras traffic in the Strait of Hormuz began to falter following a recent reescalation in hostilities.
US benchmark WTI crude futures (CL=F) last traded at around $85 per barrel, and global benchmark Brent (BZ=F) futures rose to $90 per barrel.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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