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Source:
Los Angeles Times
July stocks surge amid Amazon gains
U.S. stocks ended July with gains despite ongoing inflation concerns and rising oil prices. The S&P 500 increased by 0.7%, marking its first weekly rise in three weeks, driven by Amazon’s 15.3% surge after strong quarterly profits and increased AI-related investments. Apple declined 7.4% despite better-than-expected profits, citing supply chain issues related to AI demand. Meanwhile, bond yields and oil prices continued to climb amid geopolitical tensions and inflation worries.
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