Nasdaq futures rise as Wall Street rebounds; South Korea's Kospi soars 15%: Live updates - cnbc.com
Wall Street rebounded as Amazon's strong earnings boosted investor confidence, despite concerns over rising Treasury yields and Middle East conflict. The Nasdaq and S&P 500 saw gains while oil prices climbed due to regional instability.
Why it matters
Market volatility driven by interest rate concerns and geopolitical tensions highlights the fragile balance between corporate growth and macroeconomic headwinds.
The major averages were markedly higher Friday, the last trading session in July, as investors looked past rising bond yields and Amazon shares jumped.
The Nasdaq Composite rose 1% to end at 25,373.85, while the S&P 500 added 0.7% to close at 7,489.72. The Dow Jones Industrial Average gained 276.97 points, or 0.53%, to 52,485.03.
The 30-year Treasury bond yield spiked to its highest levels since 2007 this week. It was last up about 4 basis points on the day at 5.25%. The benchmark 10-year Treasury note yield topped 4.7% on the day, its highest level since January 2025.
The moves come as investors lost faith in Federal Reserve Chairman Kevin Warsh's commitment to curb inflation, leading yields to jump. While Warsh indicated he is committed to the inflation fight, he did say this week, "We've got no magic wand."
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