Market Open: Stocks Higher, Oil Up, Amazon Soars 13% • 7/31/26

Watch on YouTube ↗  |  July 31, 2026 at 14:18  |  3:58  |  CNBC
Speakers
Jim Cramer — Host, Mad Money
David Faber — Anchor, Squawk on the Street / Media Analyst
Carol Schlife — Strategist, BMO
Wild Swan — CEO, Shell
Jessica Ettinger — Anchor, CNBC

Summary

U.S. stocks opened higher on the final trading day of July, led by a tech rebound. Amazon soared over 13% on strong AI-driven AWS results and optimistic management commentary, while Apple slumped about 9%. Oil prices remained elevated due to the Strait of Hormuz closure amid the U.S.-Iran conflict, boosting Exxon and Chevron profits, and Shell's CEO warned of diesel and gasoline shortages as refineries prioritize jet fuel. BMO strategist Carol Schlife noted that widespread under-the-surface pullbacks have created buy-the-dip opportunities in the S&P 500.

  • Tech stocks lead market rebound, S&P 500 and Nasdaq up modestly
  • Amazon jumps 13%+ on AI winner sentiment and AWS acceleration
  • Apple drops nearly 9% post-earnings as investors rotate AI picks
  • Oil above $85/bbl; U.S. war with Iran disrupts Strait of Hormuz, removing ~20% of global supply
  • Exxon and Chevron report soaring profits; Chevron posts biggest quarterly profit in six years
  • Shell CEO says refineries shifting to jet fuel is creating diesel and gasoline shortages
  • BMO strategist notes 70% of S&P 500 has pulled back 15%+, presenting dip-buying opportunities
  • Mortgage rates hit 6.77%, highest in about a year; IMAX sees strong demand for The Odyssey
Ideas
Carol Schlife Strategist, BMO 0:41
Buy the dip in S&P 500
Nine of the eleven S&P 500 sectors have already experienced pullbacks of 10% or more, and about 70% of the index has had a pullback of 15% or more, which creates under-the-surface opportunities to buy on the dip for those looking to reposition.
SPY MED
Jim Cramer Host, Mad Money 1:24
Amazon management signals great AWS profitability
Amazon Web Services reached a $169 billion annualized run rate, posted its fastest growth in 18 quarters, and achieved a fifth consecutive quarter of accelerating growth, demonstrating remarkable momentum for such a large business.
AMZN MED
Wild Swan CEO, Shell 2:50
Diesel and gasoline markets are short
Refineries are shifting production heavily toward jet fuel (increasing output by around 20%), which is coming at the expense of diesel and gasoline, and all the price signals now show that the market is short diesel and gasoline.
UGA US Diesel HIGH
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This CNBC video, published July 31, 2026, features Carol Schlife, Jim Cramer, Wild Swan discussing SPY, AMZN, UGA, US Diesel. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Carol Schlife, Jim Cramer, Wild Swan  · Tickers: SPY, AMZN, UGA, US Diesel