S&P500: Amazon Earnings Lift Tech Stocks as China Trade Risk Eases Today

S&P 500 and Nasdaq Rise as Amazon Reignites Tech Momentum

The S&P 500 climbed 0.5% and the Nasdaq Composite added 1% Friday, led by a rebound in technology stocks following Amazon’s robust quarterly results. The Dow Jones Industrial Average was little changed, as gains in growth names offset mixed sector performance and geopolitical uncertainties.

Are Broader Indexes Regaining Weekly and Monthly Momentum?

Despite a weak session Thursday, all three major indexes are on track to finish both the week and month in positive territory. The Nasdaq is up approximately 2.5% for the week and 5% month to date, while the S&P 500 has gained over 0.8% on the week and more than 2% in October. The Dow, up 0.7% this week, is heading for its sixth consecutive monthly advance—the longest streak since 2018.

Which Sectors Showed Leadership, and Which Lagged?

Consumer discretionary led sector gains, soaring 4.4%, fueled by Amazon’s earnings. Technology and industrials rose 0.4% and 0.5%, respectively, while energy added 0.4% as crude prices stabilized.

Defensive sectors underperformed—utilities, consumer staples, and healthcare each posted losses. Materials and communication services also slipped, and real estate ended the session flat.

What Sparked the Rally in Big Tech Stocks?

Amazon jumped 10% after reporting Q3 cloud growth of 20%, beating Wall Street expectations and reinforcing confidence in its AI and infrastructure strategy. The company delivered earnings of $1.95 per share on revenue of $180.2 billion, well above consensus.

Analyst Dan Ives said AWS growth had “reaccelerated,” restoring investor confidence. Apple also gained 2% on strong iPhone 17 sales and upbeat guidance for the holiday quarter. Netflix rose 3% following a 10-for-1 stock split announcement.

Which Stocks Made the Biggest Moves on Earnings and News?

Brighthouse Financial surged 23% after reports of a potential buyout by Aquarian Holdings. Ramaco Resources gained 13% on a new agreement with the Department of Energy to expand rare earth mining.

Twilio climbed 11% on a Q3 beat, while Western Digital added 9% following better-than-expected results.

Other gainers included Strategy (+6%), Intuitive Machines (+5%), and Pony.ai (+5%). On the downside, Newell Brands tumbled 18% after slashing its full-year guidance, and Dexcom fell 12% on a soft 2026 revenue forecast.

How Did U.S.-China Trade Developments Influence Market Sentiment?

A one-year trade truce between President Trump and President Xi eased some geopolitical risk. The U.S. agreed to reduce tariffs tied to fentanyl, cutting overall levies on Chinese goods to around 47%, while Beijing paused its rare earth export restrictions. However, disputes over AI chip exports and TikTok remain unresolved.

What’s the Market Outlook as November Approaches?

With earnings beats restoring confidence and geopolitical tensions easing slightly, near-term sentiment has turned cautiously bullish. Traders will be watching next week’s Federal Reserve rate decision and any further tech earnings surprises for direction. A strong close to October positions equities for potential follow-through in early November.

More Information in our Economic Calendar.