NASDAQ Ends Six-Session Losing Streak with Big Rally; Amazon Higher on Solid Quarter; Apple Spanked After Missing EPS Estimates

The NASDAQ ended a six-session losing streak Thursday, posting one of the best gains of the year, up 2.78% on the day. Following its lead, the Dow, S&P, and NYSE Composite added solid gains.

The rally was important, as the NASDAQ had touched correction level, down 9.78% from its most recent high. Still, the one-day rise doesn't erase the losses since June 2nd, down 7.28% over that span.

Whatever caused the sudden shift in sentiment may never be known, other than deep-pocketed interests wanting to keep the "all-good" narrative going.

After the bell on Thursday, Amazon (AMZN) reported strong second quarter results, investors overlooking their AI expense to reward the company with a 10% move higher into Friday's pre-market. Apple (AAPL) also reported Thursday, but delivered sub-par results, especially in their Chinese enterprise. Shares have been spanked seven to eight percent lower Friday morning.

Energy giants, ExxonMobil (XOM) and Chevron (CVX) reported Friday morning. ExxonMobil beat on revenue, but fell short on EPS, leaving the stock down 1-2 percent heading toward the opening bell. Chevron did better, beating top and bottom. Shares are roughly two percent higher.

In the Middle East, conditions continue to tend toward continued escalation, with Iran reportedly hitting Kuwaiti bases overnight, sending WTI crude oil over $85/barrel.

Futures are off earlier highs, with Dow futures up 189; NASDAQ futures up 245, and S&P futures ahead by 17. Gold and silver have been beaten down again on futures markets. Nothing new there.

The easy path for stocks is always upward, but there doesn't seem to be sufficient energy to move significantly to the upside. The NASDAQ, despite the strong one-day event, remains a dangerous place to be and nobody knows the level of manipulation being supplied by government and institutional plumbers.

At the Close, Thursday, July 30, 2026:
Dow: 52,208.06, +613.92 (+1.19%)
NASDAQ: 25,122.18, +679.24 (+2.78%)
S&P 500: 7,437.63, +121.48 (+1.66%)
NYSE Composite: 24,138.29, +193.32 (+0.81%)