Nasdaq Jumps 2.4% as Microsoft Surges 16% on $100 Billion Azure Milestone
Updated
Updated · Yahoo Finance · Jul 30
Nasdaq Jumps 2.4% as Microsoft Surges 16% on $100 Billion Azure Milestone
3 articles · Updated · Yahoo Finance · Jul 30
Summary
Microsoft’s 16% surge powered a broad Thursday rebound, lifting the Nasdaq 2.4%, the S&P 500 1.2%, and the Dow 0.8% after the prior Fed-driven sell-off.
Azure topping $100 billion in revenue for the first time fueled the tech rally, while Meta fell about 9% after an earnings miss deepened doubts about AI spending payoffs.
Bond markets still flashed stress: the 30-year Treasury yield climbed near 5.24%, a multidecade high, even as June PCE inflation slowed and second-quarter GDP growth came in weaker than expected.
Fresh US strikes on a dozen Iranian targets added another risk layer, threatening renewed inflation pressure, while Amazon and Apple earnings were set to test whether Big Tech can sustain the rebound.