Nasdaq Leads Wall Street Higher as Amazon Surges, Apple Slumps

U.S. stocks finished higher on Friday, with the technology-heavy Nasdaq Composite leading the gains as investors navigated a mixed performance among mega-cap companies. The S&P 500 rose 0.70% and the Dow Jones Industrial Average added 0.53% to close the session.

Market Performance and Key Drivers

The Nasdaq Composite advanced 1.00% by the close of trading, according to data from Investing.com. The rally was supported by broad strength in the Consumer Services, Oil & Gas, and Telecoms sectors.

Investor sentiment appeared to improve, as reflected by the CBOE Volatility Index (VIX), which fell 6.44% to 15.99. The VIX, often referred to as the market's "fear gauge," typically moves inversely to the S&P 500, and a lower reading suggests reduced anxiety among traders.

Divergence in Tech Giants

The session was characterized by a significant divergence in the performance of major technology stocks. Shares of Amazon.com Inc. (NASDAQ:AMZN) were a standout performer on both the Dow and S&P 500, surging 15.31%.

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Other major tech names also contributed to the upside, with Microsoft Corporation (NASDAQ:MSFT) gaining 3.10% and NVIDIA Corporation (NASDAQ:NVDA) rising 2.95%. In contrast, Apple Inc. (NASDAQ:AAPL) shares weighed on the market, falling sharply by 7.35%.

Broader Market Picture

Despite the positive finish for the major indices, market breadth figures suggested some underlying caution among investors. On the New York Stock Exchange, declining stocks outnumbered advancing ones by a margin of 1,483 to 1,247.

In other markets, crude oil prices rose, with WTI futures for September delivery gaining over 1.4% to hit $84.77 a barrel. Meanwhile, gold futures for August delivery fell 1.22%, and the US Dollar Index Futures was largely flat, down just 0.05%.