MINNEAPOLIS (AP) — Kansas City Royals left-hander Noah Cameron took a no-hitter into the seventh inning against the Minnesota Twins on Thursday before Ryan Jeffers broke it up with a leadoff single.
Cameron threw only 72 pitches through six innings with two walks and five strikeouts, with little solid contact by the Twins. Catcher Salvador Perez sprang forward to pick up Ryan Kreidler’s dribbler in front of the plate and make an on-target underhand toss to first base for the second out of the sixth as the 36-year-old tumbled to the grass to keep the feat alive.
But Jeffers delivered a clean single to right-center field on an 0-2 changeup from Cameron.
Cameron still stretched his consecutive scoreless innings streak to 16 by getting the next six outs for his career-long outing with a one-hitter in eight shutout innings. He threw seven shutout frames in relief last Friday after the Royals used an opener in a 2-1 loss at Detroit. This one ended even worse, when Kody Clemens hit a walk-off grand slam with two outs in the ninth inning to give Minnesota a 4-3 victory.
Former Twins right-hander Randy Dobnak pitched seven scoreless innings for the Royals on Wednesday night in a 4-0 victory.
Cameron went 9-7 with a 2.99 ERA in 24 starts last season and finished fourth in American League Rookie of the Year award voting. The 27-year-old threw 6 1/3 no-hit innings in his major league debut on April 30, 2025, for a 3-0 win at Tampa Bay.
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Kansas City Royals starting pitcher Noah Cameron (65) delivers during the first inning of a baseball game against the Minnesota Twins, Thursday, July 30, 2026, in Minneapolis. (AP Photo/Abbie Parr)
Kansas City Royals starting pitcher Noah Cameron (65) delivers during the second inning of a baseball game against the Minnesota Twins Thursday, July 30, 2026, in Minneapolis. (AP Photo/Abbie Parr)
NEW YORK (AP) — A monster day for Microsoft’s stock following signals that its big spending on AI is translating into profits led a powerful rebound on Wall Street Thursday, while computer-chip companies regained some of their sharp recent losses. In the bond market, though, worries remained about inflation potentially remaining high for years.
The S&P 500 rallied 1.7% and more than recovered its drop from the day before, which was its worst in seven weeks. The Dow Jones Industrial Average jumped 613 points, or 1.2%. The Nasdaq composite, which is full of artificial-intelligence stocks, rallied 2.8% a day after it fell 9.8% below its record set last month.
Microsoft led the way and leaped 15.5% for its best day in nearly 18 years after reporting a stronger profit for the latest quarter than analysts expected. Growth was strong for its Azure cloud business, and CEO Satya Nadella said it reflects how customers are using Microsoft to move into AI.
Perhaps just as importantly for Wall Street, Microsoft did not announce a big increase in how much it plans to spend on AI investments, something that several other Big Tech rivals have done. Worries are high that such spending is eating into companies’ cash flows and may not ultimately be worth it if AI does not produce as much productivity and profits as promised.
Meta Platforms helped demonstrate such fears after falling 8%. The parent company of Facebook and Instagram reported a weaker profit for the latest quarter than analysts expected, even though it made slightly more in revenue than expected. It also raised the lower end of its forecasted range for spending on investments this year.
Companies involved in the making of the computer memory and processors that such “hyperscalers” are buying to power their AI efforts rose Thursday, recovering some of the big losses they’ve taken on worries their stock prices shot too high in the euphoria around AI.
Micron Technology jumped 18.4%, for example, to trim its loss for the week to 5%. It was the strongest force lifting the S&P 500 after Microsoft.
Lam Research, a supplier to the semiconductor industry, soared 18% after reporting stronger profit and revenue for the latest quarter than analysts expected. Chip giant Advanced Micro Devices rallied 13%.
On the losing end of Wall Street was Jersey Mike’s Subs. The sandwich chain’s stock fell 6% in its first day of trading on the New York Stock Exchange.
All told, the S&P 500 rose 121.48 to 7,437.63. The Dow Jones Industrial Average climbed 613.92 to 52,208.06, and the Nasdaq composite leaped 679.24 to 25,122.18.
In the bond market, longer-term Treasury yields held steadier following their sharp accelerations Wednesday. They had jumped after the chairman of the Federal Reserve, Kevin Warsh, gave few clues about what the central bank will do with interest rates to combat the painfully high inflation that continues to hurt the country.
Higher rates could keep a lid on inflation, but they can also slow the economy and undercut prices for stocks and other investments.
The yield on the 10-year Treasury was 4.67%, the same as late Wednesday. The 30-year Treasury yield ticked up to 5.22% from 5.20%, a day after it shot up from 5.09%. Those yields move with investors’ expectations for inflation and economic growth in upcoming years.
Warsh reaffirmed on Wednesday the Fed wants to get inflation back to 2%, even though the central bank decided not to raise interest rates despite inflation remaining higher than that. He also implied the bond market may already be doing some of the Fed’s work to restrain inflation, and he pointed to how yields have climbed since the central bank’s last meeting six weeks earlier.
That leaves investors questioning whether the Fed is prepared to act if inflation worsens, or whether it is relying on financial markets to achieve the same outcome, according to Seema Shah, chief global strategist at Principal Asset Management.
“If investors conclude that the latter is true, the credibility of the Fed’s inflation-fighting commitment could come under increasing scrutiny. Arguably, it already is.”
President Donald Trump, who nominated Warsh to lead the Fed, has lobbied for lower interest rates even though they could cause inflation to accelerate.
Reports released Thursday suggested the U.S. economy’s growth slowed by more during the spring than economists expected. A measure of Inflation, meanwhile, remained worse last month than the Federal Reserve’s target, but it slowed from May’s level.
In the oil market, prices eased. Brent crude, the international standard, fell 1.4% to settle at $86.88 per barrel.
It had swung as low as $72 early this month and as high as $102 last week on uncertainty about whether the United States and Iran could reach a deal to allow oil tankers to move freely again from the Middle East to customers worldwide.
In stock markets worldwide, indexes were mixed in Europe and Asia. South Korea’s Kospi fell 1.2%, and France’s CAC 40 rose 0.9% for two of the world’s bigger moves.
Seoul’s market has been at the center of AI’s huge swings because it’s dominated by two tech titans, Samsung Electronics and SK Hynix. After more than doubling through this year’s first six months, the Kospi has plunged 34% so far in July.
Its drop on Thursday came as Samsung Electronics dipped 0.7%. The tech giant reported a record profit for the spring and said demand for its chips continues to outpace supply, but its earnings nevertheless fell shy of analysts’ high expectations.
AP Business Writers Chan Ho-him and Matt Ott contributed to this report.
Jersey Mike's Subs' chairman of the board of directors Peter Cancro, left, and Eli Manning, right, pose with a ceremonial bell before the planned IPO of Jersey Mike's Subs on the floor of the New York Stock Exchange, Thursday, July 30, 2026, in New York. (AP Photo/Yuki Iwamura)
Jersey Mike's Subs' CEO Charlie Morrison waits for his company's IPO on the floor of the New York Stock Exchange, Thursday, July 30, 2026, in New York. (AP Photo/Yuki Iwamura)
A trader works on the floor of the New York Stock Exchange, Thursday, July 30, 2026, in New York. (AP Photo/Yuki Iwamura)
FILE - People pass the New York Stock Exchange on May 28, 2024, in New York. (AP Photo/Peter Morgan, File)
FILE - The New York Stock Exchange is seen in New York, Thursday, March 19, 2026. (AP Photo/Seth Wenig, File)
A screen shows the Korea Composite Stock Price Index (KOSPI), SK Hynix and Samsung Electronics Co. stock price at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, July 30, 2026. (AP Photo/Ahn Young-joon)
Currency traders work at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, July 30, 2026. (AP Photo/Ahn Young-joon)
A currency trader passes by a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, July 30, 2026. (AP Photo/Ahn Young-joon)
Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, July 30, 2026. (AP Photo/Ahn Young-joon)
A currency trader talks on the phone at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, July 30, 2026. (AP Photo/Ahn Young-joon)
