Wall Street Ends Higher on Amazon Boost, Fed Rate Caution Caps Gains

U.S. stock markets closed higher on Friday, lifted by Amazon’s strong earnings forecast, though gains were tempered by concerns that the Federal Reserve may be turning more cautious about interest rate cuts.

The Dow Jones Industrial Average rose 40.75 points, or 0.09%, to 47,562.87.
The S&P 500 gained 17.86 points, or 0.26%, to 6,840.20.
The Nasdaq Composite advanced 143.81 points, or 0.61%, to 23,724.96.

All three major indexes recorded weekly gains and extended their longest monthly winning streaks in years.

Amazon Leads Market Gains

Shares of Amazon.com Inc. surged 9.6%, closing at an all-time high, after the company issued a forecast for quarterly sales above estimates.
The strong performance made Amazon the biggest contributor to the market’s upward momentum.

The consumer discretionary sector jumped 4%, marking its largest one-day gain since May 12.

Also Read: Bitcoin Ends Seven-Year October Rally with 5% Drop

Apple Drags on Megacap Stocks

In contrast, Apple Inc. shares slipped 0.4% despite issuing a positive holiday-quarter iPhone sales forecast that exceeded Wall Street expectations.
CEO Tim Cook’s comments about supply constraints tempered investor enthusiasm and limited gains across other megacap stocks.

Cautious Fed Sentiment

While corporate earnings supported market optimism, investor sentiment was restricted by caution surrounding the Federal Reserve’s stance on rate cuts.
Analysts noted that expectations for near-term rate reductions have eased as the Fed maintains a careful approach to monetary policy.

Weekly and Monthly Gains Continue

Despite mixed signals, Wall Street closed the week and month with broad gains, marking one of the longest monthly winning runs for major indexes in recent years.

Click here to explore:
FII DII Data
IPO
BSE Sensex