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Amazon founder Jeff Bezos has just sold $333 million worth of $AMZN shares.

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U.S. stocks edged higher and closed near record levels on Friday, fueled by rising expectations of a rate cut in September amid signs of weakening inflation, as earnings season kicks off with banks in focus. The S&P 500 gained 0.5%, reaching an all-time intraday high of 5,655. The Nasdaq 100 also rose by 0.5%, recovering from its worst day since April. The Dow Jones jumped by 247 points, surpassing the 40,000 mark for the second time since it last reached this level on May 17. JPMorgan shares fell by 1.2% despite higher-than-expected revenue driven by an increase in investment banking fees. Citigroup shares dropped by 1.8% even after exceeding revenue and profit forecasts. Wells Fargo shares declined by 6% after the company reported lower-than-expected net interest income. For the week, the Dow rose by 1%, followed by the S&P 500 (+0.6%), while the Nasdaq 100 fell (-0.5%).

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