Amazon surges as US stocks shrug off bond yield worries

The Amazon logo is seen at its newly inaugurated office in Bengaluru, India, Feb 23, 2026. (Photo: REUTERS/Priyanshu Singh) 01 Aug 2026 05:43AM NEW YORK: Wall Street stocks charged higher Friday (Jul 31) behind strong earnings from Amazon that offset the drag from higher US Treasury yields.Shares of Amazon surged 15.3 per cent as the tech giant posted more than US$62 billion in quarterly profits behind a 20 per cent revenue increase in results that blew past analyst expectations.Amazon's surge added to confidence about artificial intelligence investments amid questions about the payoff, a day after Microsoft also wowed investors with strong results."The earnings picture continues to surprise very much to the upside, especially with Amazon's results, and so I think investors are ignoring th