U.S. Stocks Close Higher; Apple Plunges Over 7%
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U.S. stocks closed higher on Friday, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all posting gains. The rally was driven by a 15% surge in Amazon's stock price following strong results from its cloud computing business. Meanwhile, Apple shares dropped over 7% due to supply constraints and weak guidance, wiping out $358 billion from its market capitalization. For the week, the S&P 500 gained 1.05%, the Nasdaq rose 1.59%, and the Dow Jones advanced 1.04%.
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