FX.co ★ US Stocks Close Higher on Tech Gains

US stock indices finished higher on Friday, with late-session strength in major technology names lifting the market after a volatile day. The S&P 500 advanced 0.7%, the Nasdaq 100 gained 0.6%, and the Dow Jones Industrial Average rose 277 points. Amazon surged 15.3% on the back of robust cloud-computing growth. Optimism surrounding AI-related trades supported software makers and hyperscalers, with Alphabet up 6.9%, Microsoft adding 3%, and Meta rising 3.3%. These gains more than offset a 7.3% drop in Apple, where chip shortages pushed up costs and cut June-quarter output, weighing on earnings. More broadly, sector performance was softer: Netflix slipped 2%, while Eli Lilly edged down 0.6%. ExxonMobil declined 1%, as limited refinery capacity prevented the company from fully capitalizing on last quarter’s higher crude prices. Meanwhile, the 30-year US Treasury yield continued to climb amid concerns that Kevin Warsh’s FOMC may hold off on further rate increases to rein in inflation.