Stock market today: Amazon leads Wall Street higher
Amazon led U.S. stock indexes higher, while a surprisingly weak jobs report marred by some unusual occurrences cemented bets on Wall Street for another cut to interest rates next week
NEW YORK (AP) — Amazon led U.S. stock indexes higher on Friday, while a surprisingly weak jobs report marred by some unusual occurrences cemented bets on Wall Street for another cut to interest rates next week.
The S&P 500 rose 0.4% to recover some of its loss from the day before, which was its worst in eight weeks. The Dow Jones Industrial Average added 288 points, or 0.7%, while the Nasdaq composite gained 0.8%.
Amazon climbed 6.2% after delivering a bigger profit for the latest quarter than analysts expected and was the strongest force pushing the S&P 500 higher.
Intel, meanwhile, rallied 7.8% despite reporting a worse loss than expected. Its revenue topped analysts’ estimates, and it gave a forecast for results in the current quarter that likewise topped expectations. Cardinal Health was another one of the market’s bigger gainers and jumped 7% after topping analysts’ forecasts for profit and revenue in the latest quarter. It also raised its profit forecast for its fiscal year, which is only in its second quarter.
