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Big Tech props up Wall Street as S&P 500 closes winning July

Stocks staged a late rally on Wall Street Friday, closing out their fourth straight winning month. (MGN)
Stocks staged a late rally on Wall Street Friday, closing out their fourth straight winning month. (MGN)(WIFR)
Published: Jul. 31, 2020 at 5:43 PM CDT
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NEW YORK (AP) - Stocks staged a late rally on Wall Street Friday, closing out their fourth straight winning month.

Huge gains for leading tech companies, especially Apple and Facebook, led the way higher.

Outside of Big Tech, much of the rest of the market struggled, leaving more stocks lower than higher on the day.

The S&P 500 rose 0.8% after a wobbly start to the day, and the tech-heavy Nasdaq rallied 1.5%.

There were several signs investors remain cautious about the economy overall.

Small-company stocks fell, the price of gold rose to another record high and the 10-year Treasury yield ticked lower. 

(Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.)

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