Apple soars to record | Congress stalled on relief bill | Stocks finish higher

Stocks rose in a weak rally despite strong earnings from technology giants.

VIEW IN BROWSER | SUBSCRIBE FRI, JUL 31, 2020 EVENING BRIEF AS OF FRI, JUL 31, 2020 • 04:33 ET DJIA 26428.32 +0.44% +114.67 S&P 500 3271.12 +0.77% +24.90 NASDAQ 10745.28 +1.49% +157.46   Most Active DOW NAME LAST CHG %CHG AAPL 425.04 +40.28 +10.47% MSFT 205.01 +1.11 +0.54% INTC 47.73 -0.26 -0.54% S&P 500 NAME LAST CHG %CHG GE 6.07 -0.19 -3.04% F 6.61 -0.13 -1.93% AAPL 425.04 +40.28 +10.47% NASDAQ NAME LAST CHG %CHG AAPL 425.04 +40.28 +10.47% AMD 77.43 -0.77 -0.98% FB 253.67 +19.17 +8.17% EDITOR'S NOTE Big Tech has boosted the stock market since the depths of the coronavirus downturn, but its gangbuster earnings reported late Thursday did not make for a strong rally on Friday.   The major indexes rose modestly on Friday.  For the week, the Dow Jones Industrial Average posted a small loss, while the S&P 500 and the Nasdaq notched gains.   Big Tech's gains were perhaps not enough to overcome the uncertainty other companies face in the pandemic.  "No one was doubting any of those companies so the fact they all exceeded expectations isn't exactly shocking," wrote Adam Crisafulli of Vital Knowledge. Indeed, while expectations where high for technology's biggest players, earnings season didn't go very well for other large companies, including Caterpillar, Chevron, Exxon Mobil and Shake Shack. Stocks linked to economic recovery slid with the latest report on gross domestic product showing a 32.9% plunge and the recent coronavirus counts showing a spike.   The economy has been running on stimulus for millions of out-of-work Americans, and that expires this afternoon. Republicans and Democrats remain far apart on terms of a new relief bill, each blaming the other for lack of progress.   "We're going in the wrong direction," said White House chief of staff Mark Meadows on Friday. "It is very disappointing."   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  Dow closes 110 points higher amid Big Tech rally, Apple soars 10% to a record Coronavirus relief talks sputter as $600 weekly unemployment benefit expires and Washington plays blame game Tech competitors are 'blown away' by Congress' CEO grilling and hopeful for antitrust reform Dr. Fauci says coronavirus is so contagious, it won't likely ever disappear Track the latest coronavirus news here Here's what every major Wall Street analyst had to say about Amazon's 'simply humongous' quarter 17-year-old accused of masterminding Twitter Bitcoin scam House report accuses Trump administration of 'waste, fraud or abuse' in U.S. ventilator contract Warren Buffett adds to his Bank of America buying spree, bringing stake to 11.8% Exxon shares fall after it loses money for a second straight quarter     TOP VIDEO Ford CFO Tim Stone on second-quarter earnings and guidance for the rest of 2020   CNBC PRO Here's what every major Wall Street analyst says about Apple's blowout earnings report   SPECIAL REPORTS Retail reverses course after reaching 2018 highs, but this stock may still have legs, trader says One of the top-performing payments stocks this year could be due for a pullback, Miller Tabak says   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS