Stocks Rally as Amazon Boosts U.S. Markets Amid Weak Jobs Report
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Stocks Rally as Amazon Boosts U.S. Markets Amid Weak Jobs Report

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Azeez Mustapha

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Stocks climbed Friday, driven by Amazon’s strong performance, which lifted major U.S. indexes despite a mixed jobs report. Wall Street’s anticipation of a potential interest rate cut next week bolstered investor sentiment, as the report showed weaker-than-expected employment figures with some unusual distortions.

The S&P 500 gained 0.4%, recouping part of Thursday’s sharp decline, its worst in two months. The Dow Jones Industrial Average rose 0.7%, while the Nasdaq composite advanced 0.8%. Amazon’s stronger-than-anticipated quarterly profit further energized the tech sector. Treasury yields, initially falling on the jobs data, later edged higher, reflecting investor adjustments.

Stocks Rally as Amazon Boosts U.S. Markets Amid Weak Jobs Report

Key Stock Performances and Weekly Recap

On Friday, the S&P 500 added 23.35 points (0.4%) to close at 5,728.80, while the Dow Jones increased by 288.73 points (0.7%) to end at 42,052.19. The Nasdaq composite rose by 144.77 points (0.8%) to 18,239.92, and the Russell 2000 index, representing smaller companies, climbed 13.48 points (0.6%) to 2,210.13.

Although Friday brought gains, the week overall was marked by volatility. The S&P 500 dipped 1.4% across the week, while the Dow was nearly flat, down only 0.1%. The tech-heavy Nasdaq slid 1.5%, and the Russell 2000 showed resilience with a slight 0.1% gain.

Stocks Rally as Amazon Boosts U.S. Markets Amid Weak Jobs Report

Stocks’ Year-to-Date Performance Signals Stronger Economy

Year-to-date figures reveal robust gains across major indexes, with the S&P 500 up by 20.1%, the Dow by 11.6%, and the Nasdaq by an impressive 21.5%. The Russell 2000, though smaller in comparison, has climbed 9%.

These gains highlight investors’ optimism in a resilient economy, fueled by corporate earnings and growth in the technology sector. As Wall Street awaits the Federal Reserve’s interest rate decision next week, investors remain cautiously optimistic, balancing economic indicators with corporate growth potential.

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