EL7.AI
StocksMedium•31 July 2026•
1 min read

Microsoft and Amazon Lead Nasdaq Weekly Gains Following Strong Earnings

Key Facts

1Microsoft and Amazon were among the top weekly gainers on the Nasdaq following robust earnings reports.

Following weeks of anticipation, Microsoft and Amazon reported quarterly results that exceeded market expectations, driving their shares to the top of the Nasdaq's weekly gainers list. According to reports, these robust earnings contributed to an index recovery and bolstered confidence in mega-cap tech growth after a period of volatility. Sources described the earnings as a primary driver for the significant weekly gains witnessed across the tech sector.

In the context of sector performance, market data showed varied movements among other tech giants; Apple (AAPL) closed at $308.91 and Alphabet (GOOGL) at $352.78 as of July 31, 2026. Meta (META) also reached $547.825 on the same date, reflecting the broader momentum in tech stocks coinciding with the positive surprises from Microsoft and Amazon.

On July 31, 2026, MSFT stood at $461.61, while AMZN traded at $270.95. Looking ahead, traders are monitoring the impact of the recent Fed Interest Rate Decision on July 29, which held rates at 3.75%, providing a relatively stable monetary backdrop for growth stock valuations in the coming period.