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The S&P 500 and NASDAQ Composite rose on Friday as investors digested strong quarterly results from tech giant Amazon
The Dow Jones Industrials index recovered 138.67 points Friday to 47,660.79
The S&P 500 recouped 45.74 to 6,866.42
The NASDAQ revived 275.87 points, or 1.2%, to 23,857.
The three leading U.S. stock indexes are on track to close out a winning week and month. The S&P 500 has gained 0.8% so far this week, while the tech-heavy NASDAQ and Dow are up roughly 2.5% and 0.7%, respectively, week to date.
October — which has experienced some of the largest one-day losses in stock market history — has seen the S&P 500 climb more than 2% over the month.
The NASDAQ has jumped about 5%, and the 30-stock Dow is up more than 2% month to date. The Dow is on pace for its sixth positive month in a row for the first time since 2018.
Amazon shares rallied 10% after the e-commerce giant said its cloud computing unit’s revenue increased 20% in the third quarter, exceeding Wall Street’s estimates.
Streaming leader Netflix was also a winner Friday, adding 3% after the company announced a 10-for-one stock split. Electric vehicle maker Tesla likewise helped out the broader market, with shares rising 3% in the session as well.
Prices for the 10-year Treasury gained, weighing yields to 4.08% from Thursday’s 4.09%. Treasury prices and yields move in opposite directions.
Oil prices picked up 19 cents to $60.70 U.S. a barrel.
Gold prices brightened $13.80 to $4,029.70 U.S. an ounce.
