The Dow Jones Industrial Average closed higher on Friday, supported by Amazon's strong earnings, which helped restore investor confidence in artificial intelligence-related stocks, even as Apple shares fell sharply after disappointing business guidance. The Dow closed at 52,485.03, up 276.97 points, or 0.53 percent. The S&P 500 ended at 7,489.72, gaining 52.09 points, or 0.70 percent, while the Nasdaq finished at 25,373.85, up 251.68 points, or 1.00 percent. European markets closed slightly lower but still posted weekly and monthly gains, with the STOXX 600 ending at 649.19, down 0.76 points, or 0.12 percent. West Texas Intermediate crude futures rose more than one dollar per barrel as investors worried about oil shipping disruptions following an Iranian report that some tankers were forced to turn back while transiting the Strait of Hormuz. This helped July oil prices achieve their best performance since March. WTI crude for September delivery rose 1.08 dollars, or 1.29 percent, to settle at 84.67 dollars per barrel, while Brent crude for September delivery gained 1.09 dollars, or 1.22 percent, to close at 90.12 dollars per barrel.
Apple Inc.Apple shares fell sharply after disappointing business guidance, indicating weak demand.
Amazon.com IncAmazon's strong earnings boosted investor confidence, positively impacting its stock.