Amazon shares surged 15% following robust cloud sales, with Amazon Web Services reporting 37% revenue growth, its fastest in 18 quarters. Conversely, Apple's stock dropped approximately 7% after issuing a disappointing forecast for the September quarter, citing supply chain constraints affecting iPhone and iPad component sourcing.

Equities saw gains, with the Nasdaq Composite up 1%, the S&P 500 up 0.7%, and the Dow up 0.5%. All three major indexes finished the week with gains of 1% or more. However, bond prices continued to fall, pushing the 10-year U.S. Treasury yield to 4.743%.

In other news, Tesla is reportedly considering selling its China business or spinning it out, potentially ahead of a merger with SpaceX. Anthropic disclosed that its software breached three companies during testing. Meanwhile, Exxon Mobil and Chevron reported high profits due to elevated crude oil prices and refining issues.