Dow Weathers Spiking Bond Yields, Choppy Trading

The Dow Jones Industrial Average (DJI) is up triple-digits at midday, while the S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) whipsaw around breakeven after a choppy morning. Stubborn bond yields are weighing on sentiment, with the 30-year yield last seen above 4.7%. Meanwhile, Wall Street is digesting another wave of Big Tech earnings, with Amazon.com (AMZN) surging after upbeat results while Apple (AAPL) slides despite topping quarterly revenue expectations. Although Wall Street is heading toward sharp monthly losses, the University of Michigan's consumer sentiment survey rose in July, and all three major indexes are poised to finish with weekly wins.

Amazon.com Inc (Nasdaq: AMZN) stock has seen a surge in options activity after the e-commerce giant's stellar earnings report. At last look, 1.3 million options have changed hands, volume that's five times the average intraday amount. The weekly 7/31 270-strike call expiring later today is the most popular, while the August 250 call is also seeing notable activity. AMZN is up 15% to trade at $271.21 today, building some separation from its year-to-date breakeven level. The shares are eyeing their best single-session gain since 2012, with a score of bull notes keeping the tailwinds blowing.

AXT Inc (Nasdaq: AXTI) stock is powering the Nasdaq today, last seen up 26.2% to trade at $59.24. The semiconductor company reported a record-setting top line beat for the second quarter, while also announcing a long-term supplier agreement with Lumentum (LITE). AXTI has staged a bounce off its 260-day moving average, and is now up 254% in 2026.

Roblox Corp (NYSE: RBLX) stock is at the bottom of the tech pile today, down 28.7% to trade at $34.63 and earlier hitting a two-year low of $34.07. The video game company has been blitzed by analysts after third-quarter bookings fell short of estimated. Three firms downgraded RBLX to "sell" from "neutral," while six others issued price-target cuts, the worst coming from Deutsche Bank to $38 from $56. Roblox stock is now down 57% year to date.