The Dow Jones Industrials climbed 288.73 points to 42,052.19
The S&P 500 index gained 23.35 points to 5,728.80
The NASDAQ jumped 144.37 points, or 1.2%, to 18,239.92.
The major averages are wrapping up a choppy week. The S&P 500 lost 1.4% in the period, while the NASDAQ slid 1.5%. Postearnings slumps in Microsoft and Meta Platforms weighed on the indexes. The 30-stock Dow inched down 0.2% week to date.
Amazon rallied 6.2% as strength in the cloud and advertising businesses propelled the e-commerce giant above Wall Street’s earnings expectations. Intel popped 7.8% after exceeding analysts’ forecasts for revenue and offering strong guidance. The two stocks helped lift investor sentiment following some notable earnings disappointments this week.
Amazon rallied more than 7% as strength in the cloud and advertising businesses propelled the ecommerce giant above Wall Street’s earnings expectations. Intel popped nearly 8% after exceeding analysts’ forecasts for revenue and offering strong guidance. The two stocks improved sentiment following some notable earnings disappointments this week.
Meanwhile, the jobs report released on Friday showed the U.S. economy added just 12,000 jobs in October, far below the Dow Jones estimate of 100,000. This marked the weakest level of jobs creation since December 2020. The unemployment rate, held at 4.1%, in line with estimates. However, traders were not reacting too much to the jobs figures, believing the dismal data was impacted by hurricanes and a Boeing strike.
In addition to the U.S. Presidential election on Nov. 5., which has led to elevated volatility, investors are also looking toward the Fed’s two-day policy meeting on Nov. 6 and Nov. 7.
Prices for the 10-year Treasury swooned, springing yields to 4.38% from Thursday’s 4.28%. Treasury prices and yields move in opposite directions.
Oil prices acquired 22 cents to $69.48 U.S. a barrel.
Prices for gold paled $5.70 an ounce to $2.743.60 U.S.