Nasdaq Advances On Amazon Rise

Wall Street indices rose, led by the Nasdaq, which drove the gains thanks to a 13.7% increase in Amazon's stock after announcing its biggest revenue growth in over four years, supported by strong growth in cloud computing services. Meanwhile, Apple’s shares fell by 9.8% due to supply chain warnings affecting iPhone sales, which dampened optimism about the company's future growth. Overall, the markets experienced a rally at the end of the week with a move toward weekly gains, despite a monthly decline in major indices driven by a wave of sell-offs in AI company stocks in July.

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