Weekly Market Recap: Friday, July 31, 2026 — Market Analysis

Key Themes This Week

• •Major indexes posted weekly gains despite a turbulent month marked by AI spending concerns and geopolitical tensions, with the Dow and S&P 500 each gaining about 1% for the week while the Nasdaq advanced 1.6%.
• •Big Tech earnings revealed a sharp divide: Amazon surged 15% on strong cloud results while Apple fell 7% on chip shortages and weak China sales, highlighting market scrutiny of AI infrastructure returns.
• •The Federal Reserve held rates steady at 3.5%-3.75% but three members dissented in favor of hiking, while weaker-than-expected GDP growth and elevated inflation data painted a complex economic picture.