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American2Day

News and opinion for Michigan, Eaton County, and the Mulliken area

American2Day

News and opinion for Michigan, Eaton County, and the Mulliken area

Money

Stocks rise as Amazon gains and bond yields climb

A2D News Desk

U.S. stocks closed higher Friday in the last trading session of July, with the Nasdaq Composite up 1% at 25,373.85 and the S&P 500 gaining 0.7% to 7,489.72. The Dow Jones Industrial Average rose 276.97 points, or 0.53%, to 52,485.03.

Amazon shares surged 15% after better-than-expected second-quarter revenue, helped by strength in its cloud-computing business. Apple fell more than 7% even as fiscal third-quarter revenue topped expectations, with a shortfall in service revenue weighing on shares.

Bond yields also rose, with the 30-year Treasury yield reaching its highest level since 2007 this week and the 10-year Treasury yield topping 4.7% on the day. Oil prices moved higher, with West Texas Intermediate crude settling at $84.67 a barrel and Brent at $90.12.

Read the full story at cnbc.com.

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