Heading: WALL ST STRUGGLES FOR DIRECTION AS RATE UNCERTAINTY OFFSETS AMAZON JUMP - 2026-08-01
Published August 1, 2026 Updated 41 minutes ago NEW YORK: Wall Street’s main indexes traded between small gains and losses on Friday, as uncertainty over the path for interest rates and a slide in Apple’s shares offset a 13.7 percent jump in Amazon. Amazon.com reported its biggest revenue growth in over four years for the previous quarter, joining similar reports from Microsoft and Alphabet earlier this month, prompting investors to look past the companies’ big spending plans that rattled markets through this month. Apple, on the other hand, slid 9.2 percent after warning that supply constraints would hurt growth, adding to worries about the hit from iPhone price hikes. This week was what some analysts called ‘make-or-break’ for the tech sector that had been beaten down as traders took some profits through July following a strong end to the second quarter, as they awaited signs that investments made by AI leaders at the expense of free cash flow were paying off. Shares of Microsoft were up 1.5 percent after logging their biggest one-day gain on record for a company in the previous session, while Alphabet jumped 5 percent and Meta gained 1.5 percent. Among chip stocks, Nvidia climbed 0.8 percent and Monolithic Power Systems gained 11.1 percent after forecasting third-quarter revenue above estimates. At 11:43 a.m. ET, the Dow Jones Industrial Average rose 99.24 points, or 0.19 percent, to 52,306.20, the S&P 500 lost 1.49 points, or 0.02 percent, to 7,436.14 and the Nasdaq Composite lost 15.65 points, or 0.06 percent, to 25,106.53. The S&P 500’s consumer discretionary sector led the gains, up 5 percent, helped by Amazon’s surge, while tech lost over 1.6 percent. All…