NOV 02, V7N- Wall Street’s major indexes saw gains on Friday, recovering from the previous day’s losses as Amazon’s strong earnings uplifted the market. Amazon rose 6.2% after reporting strong retail sales and profits that exceeded Wall Street expectations. In contrast, Apple dropped 1.2%, driven by investor concerns over declining sales in China.

Despite weak October nonfarm payrolls, with just 12,000 jobs added—well below the forecasted 113,000—the unemployment rate held steady at 4.1%. Investors appeared reassured about the labor market's stability and continued to expect a Federal Reserve rate cut of 25 basis points in November.

The Dow Jones Industrial Average rose by 0.69% to 42,052.19, the S&P 500 increased by 0.41% to 5,728.80, and the Nasdaq Composite gained 0.80% to reach 18,239.92. However, all three indexes recorded losses for the week, with the S&P 500 down 1.38%, the Nasdaq falling 1.51%, and the Dow slipping 0.16%.

Amazon’s surge propelled the Consumer Discretionary sector up 2.4%, reaching a two-year high. Intel also rose 7.8% after a positive revenue forecast, and Chevron gained 2.8% after surpassing profit expectations. Declining issues slightly outpaced advancers on the NYSE, with trading volume at 12.13 billion shares, above the recent 20-day average.

Investors remain watchful of the upcoming U.S. election and Federal Reserve meeting in November, with these key events expected to shape near-term market moves.

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