US Stocks Falter as AI-Driven Rally Fades Despite Amazon …

On July 31, 2026, US stocks experienced gains, primarily driven by a 15% rally in Amazon's stock following positive earnings reports. The S&P 500 Index rose by 0.7%, and the Nasdaq 100 Index increased by 0.6%. Notably, the Philadelphia Semiconductor Index saw a modest gain of 0.1%. The market was characterized by rising enthusiasm for artificial intelligence, with particular strength in consumer discretionary and communication services sectors. However, the Cboe VIX Index remained stable near 16.11, indicating a level of market volatility.

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By Felice Maranz

July 31, 2026 at 11:46 AM UTC

Updated on July 31, 2026 at 8:05 PM UTC

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US stocks rose on Friday as Amazon.com Inc.’s 15% rally after stellar results lifted a broad sweep of companies benefiting from zeal for artificial intelligence.

The S&P 500 Index closed 0.7% higher and the tech-heavy Nasdaq 100 Index advanced 0.6%. The Philadelphia Semiconductor Index, known as the SOX, added 0.1%, while the Cboe VIX Index hovered near 16.11. Four of the 11 industry groups on the S&P 500 rose, led by consumer discretionary and communication services stocks.

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US Stocks Falter as AI-Driven Rally Fades Despite Amazon Blowout