Live Markets-Amazon, Anthropic and US earnings growth

Amazon.com's AMZN.O shares are up sharply again on Monday, and its market value topped $3 trillion for the first time, in the wake of strong earnings the company reported late Thursday. Its shares are up about 5% on Monday after rising more than 15% on Friday.

Its results also are giving a big boost to overall S&P 500 .SPX earnings, which were on pace to rise 29.3% on an adjusted basis from a year ago as of Friday, based on LSEG data that included companies that have reported along with estimates for the rest.

But that figure is excluding "mark-to-market gains" from both Alphabet GOOGL.O, which reported results on July 22, and Amazon. Including those gains, the latest growth estimate for the S&P 500 would be 47.7%, said Tajinder Dhillon, head of earnings research at LSEG.

More specifically, "Amazon’s results include a large non-operating gain, which includes their investment in Anthropic," he said, citing the company's press release, which noted that its second-quarter 2026 net income included non-operating pre-tax other income of $53.4 billion, primarily from its investments in Anthropic.

Amazon stock's rally is tied to its earnings and signs that the AI boom is driving fresh demand for its cloud-computing services.

More than 300 of the S&P 500 companies so far have reported results for the last quarter. On Tuesday, SpaceX SPXC.O is due to deliver its first earnings report since its record-breaking IPO.

(Caroline Valetkevitch)

Nasdaq rallies ~2%, S&P 500, Dow up ~1% each.

Comm Svcs leads S&P 500 sector gainers; Energy weakest group.

Dollar rises; bitcoin up 0.7%; gold edges down; U.S. crude down >5%.

U.S. 10-year Treasury yield falls to ~4.69%.