Stocks end volatile July higher as oil keeps inflation worries alive

U.S. stocks rose Friday after a choppy session, ending a volatile July on Wall Street. The S&P 500 climbed 0.7%, the Dow Jones Industrial Average added 276 points, or 0.5%, and the Nasdaq composite gained 1%.

Amazon jumped 15.3% after reporting quarterly profit that more than tripled from a year earlier, helped by faster growth in its cloud computing business. Apple fell 7.4% despite stronger-than-expected profit after its revenue growth forecast missed expectations.

Oil prices added to inflation concerns. Brent crude rose 1.2% to settle at $87.93, and AAA put the national average for regular gasoline at nearly $4.11 a gallon, up from $3.85 a month ago.

Bond yields also moved higher, with the 10-year Treasury yield rising to 4.71% from 4.68% late Thursday. The Federal Reserve voted Wednesday to keep its main interest rate steady while inflation remains well above 2%.

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