Tech Stocks Surge But S&P 500 Faces Second Weekly Decline, Amazon Rallies, Bitcoin Drops Below $70,000: What's Driving Markets Friday?

Quick Summary:

Concerns over tech earnings eased after Amazon.com Inc.(NASDAQ:AMZN) outperformed expectations, restoring some risk appetite and supporting the sector rebound.

Wall Street rebounded Friday following Thursday’s selloff, yet midday gains were still insufficient to prevent a second consecutive weekly decline for the S&P 500, currently down 1% for the week.

Amazon shares surged over 6%, heading for their best session since February.The Nasdaq 100, up by 1.1%, outperformed the S&P 500, up 0.8%.In economic data, the U.S.economy added just 12,000 jobs in October, a steep drop from the 223,000 gain in September and well below the forecast of 113,000, as hurricanes and strikes led to hiring freezes nationwide.Despite the weak job ...

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Author / Journalist: Piero Cingari

Category: Technology

Markets: United StatesIsrael

Topics: US4642876555 US25746U1097 Midday report Stories That Matter Benzinga US4581401001 Macro Economic Events WAT Equities CBOE US0231351067 US81369Y8030 TEAM US73935A1043 XLU Pro Project US81369Y8865 ETFs D $BTC US1667641005 DIA CVX Econ #s Sector ETFs US78462F1030 Broad U.S. Equity ETFs US78467X1090 Large Cap IWM Earnings XOM US0378331005 US30231G1022 Economics US14149Y1082 XLY AMZN US81369Y4070 CHTR SPY XLK US9418481035 Top Stories AAPL Tech INTC QQQ US16117M3051 CAH US12503M1080

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 18:01:35 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 324 words

Reading Time: 2 minutes read

Sentences: 15 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23366006

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