Tech Stocks Bounce Back Big After Microsoft's Strong Cloud Results

On July 29, 2026, the Nasdaq 100 — a basket of the 100 largest tech companies — had fallen about 10% from recent highs, what Wall Street calls a correction. The next day it surged 3.4%, its best since March 31, 2026, per Bloomberg, after Microsoft's cloud growth eased doubts about AI spending. When one report swings an entire market, sentiment is fragile and reversals cut fast.