Dow closes 110 points higher amid Big Tech rally, Apple soars 10% to a record

(CNBC) Stocks wiped out earlier losses and closed higher on Friday as the biggest tech companies and market leaders — Amazon, Apple and Facebook — soared after posting stellar quarterly results.

The Dow Jones Industrial Average rose about 115 points after dropping 286 points at its low of the day. The S&P 500 climbed 0.7%, while the Nasdaq Composite gained 1.4%, led by a 10% jump in Apple shares.

The major equity averages also wrapped up the month of July with solid gains and posted their fourth straight positive month. The S&P 500 gained 5.5% in July, while the Dow and the Nasdaq Composite rose 2.3% and 6.8%, respectively.

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