The AI-cloud trade roars back. Microsoft posts a record day and Amazon's AWS blows past estimates, while Exxon and Chevron report this morning.
Wall Street came roaring back in the prior session. The S&P 500 rose 1.7% to 7,437, the Nasdaq jumped 2.8% to 25,122, and the Dow added 1.2%. The Nasdaq snapped a six-day losing streak.
Microsoft was the engine. Its stock surged about 16% and added roughly $450 billion in market value in a single day, the largest one-day value gain by any stock ever. Azure growth was the trigger.
Amazon added fuel. AWS grew 37% year-on-year, its fastest in 18 quarters, and sales topped $200 billion. Tonight the market digests those reactions while awaiting Exxon and Chevron earnings.
Whether it joins the AI-cloud rebound and how its AI capex plan reads next
Tonight's Catalysts 🧨
AI cloud roars back: Microsoft's record, Amazon's AWS blowout
Microsoft (MSFT) surged about 16% and added roughly $450 billion in value, driven by Azure growth. Amazon (AMZN) followed with AWS up 37%, its fastest in 18 quarters, and sales past $200 billion. Together they reignited the case that the AI trade is far from over.
Apple lags despite record iPhone sales
Apple (AAPL) moved the other way. iPhone sales rose 22% and results set a record, yet the stock fell more than 4% after hours on a weak forward forecast and supply-chain worries. At least one Wall Street firm cut its rating. It is the counterweight to the cloud optimism.
The AI rally spread to Asia. Korea's KOSPI posted a record jump and Samsung and SK Hynix rebounded on AI-memory demand, a positive read for Nvidia (NVDA). This morning Exxon and Chevron report, offering a clean energy-sector read with oil prices still elevated.
Pre-Market Pulse 📊
US futures lean higher this morning, carrying the rebound momentum from the prior session. Focus shifts to the oil-major earnings and whether risk appetite holds. Meta and Nvidia are the megacap AI names to watch for follow-through.
Macro Note 📝
The US 10-year Treasury yield sits near 4.66%, its highest since early 2025, after the Fed held rates. WTI crude trades around $83.80 a barrel and gold near $4,086 an ounce. Elevated rates remain a counterweight for risk assets.
Conclusion
The market's message is fairly clear: the AI-cloud trade is back on. Microsoft's record and Amazon's AWS blowout lifted the entire tape, while Apple was a reminder that not every giant moves in the same direction.
For investors, it is a good time to study the watchlist before the oil-major earnings and tonight's US session. What stocks are you watching tonight?
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