U.S. Stocks End Volatile Session Mostly Higher as Amazon’s Rally Leads Markets

U.S. stock indexes finished mostly higher on Friday after a day of sharp swings, as investors balanced upbeat tech earnings with renewed caution over interest rates. The Nasdaq, S&P 500, and Dow Jones Industrial Average all managed to close in the green despite a turbulent session.

The Nasdaq Composite climbed 143.81 points (0.6%) to 23,724.96, the S&P 500 advanced 17.86 points (0.3%) to 6,840.20, and the Dow Jones edged up 40.75 points (0.1%) to 47,562.87.

Over the week, the Nasdaq gained 2.2%, while the S&P 500 and Dow rose 0.7% and 0.8%, respectively.

Amazon’s Strong Results Boost Tech Confidence

The session’s strength was largely driven by Amazon (AMZN), which jumped 9.6% after delivering impressive third-quarter earnings. The company’s cloud unit, AWS, saw robust revenue growth, reflecting the rising demand for AI-driven computing services.

Russ Mould, Investment Director at AJ Bell, explained:

“Amazon’s retail arm attracts the attention, but AWS remains the key growth engine. The surge in AI demand has strengthened its position and reignited investor confidence.”

Netflix (NFLX) also advanced after announcing a 10-for-1 stock split, signaling optimism about its share performance ahead.

However, Apple (AAPL) shares slipped slightly, even after reporting better-than-expected quarterly results. Analysts cited profit-taking and cautious investor reaction to remarks from Federal Reserve Chair Jerome Powell earlier in the week.

Interest-Rate Uncertainty Adds to Market Volatility

Despite the Fed’s widely expected quarter-point rate cut, Powell’s statement that a December cut was “not a foregone conclusion” created mixed sentiment.

According to the CME FedWatch Tool, the probability of another rate cut in December has dropped from 91.7% a week ago to 65.0%, adding to investor unease.

This policy uncertainty, coupled with strong corporate results, created a push-and-pull effect that kept markets choppy through the day.

Sector Highlights and Global Trends

Retail stocks saw strong gains, led by Amazon’s rally, sending the Dow Jones U.S. Retail Index up 4.0% — its best close in more than a month. Airline stocks also recovered, pushing the NYSE Arca Airline Index up 2.7% from recent lows.

Gains were also seen in biotech, hardware, and brokerage shares, while gold-related stocks retreated as gold prices dipped.

Across Asia, markets ended mixed: Japan’s Nikkei 225 rose 2.1%, while Shanghai Composite fell 0.8% and Hang Seng lost 1.4%. In Europe, sentiment was weaker, with the German DAX down 0.6%, the U.K. FTSE 100 off 0.5%, and the French CAC 40 down 0.4%.

In U.S. bond markets, Treasury yields were little changed, with the 10-year note holding near 4.10%.

Outlook: Earnings and Private Data in Focus

With the government shutdown delaying official economic reports, investors are expected to rely on private-sector data covering manufacturing, services, and employment.

Next week’s corporate earnings releases from major firms may also set the tone for early November trading and determine whether Wall Street’s momentum continues.

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