Report from the University of Michigan showed that U.S. consumer sentiment improved more than previously estimated in JulyUS markets end higher on Friday – Latest News
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01 Aug 2026
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U.S. markets ended higher on Friday, led by a sharp rally in Amazon (AMZN) shares, with the online retail giant surging 15.3 percent to its highest closing level in two months. Sentiments also remained upbeat after a report from the University of Michigan showed that U.S. consumer sentiment improved more than previously estimated in July. The University of Michigan said its Consumer Sentiment Index for July was revised upward to 55.2 from the preliminary reading of 54.4. Street had expected the index to be revised down to 54.2. Meanwhile, traders shrugged off a surge in Treasury yields, even as the benchmark 10-year Treasury yield climbed back to its highest level since early 2025.
On the sectoral front, gold stocks moved sharply lower alongside the price of the precious metal, dragging the NYSE Arca Gold BUGS Index down by 3.2 percent. Biotechnology stocks also came under considerable selling pressure, with the NYSE Arca Biotechnology Index plunging 2.9 percent.
Nasdaq surged 251.68 points or 1.0 percent to 25,373.85, S&P 500 gained 52.09 points or 0.7 percent to 7,489.72 and Dow Jones Industrial Average jumped 276.97 points or 0.53 percent to 52,485.03.
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