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

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 18:01:35 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 324 words

Reading Time: 2 minutes read

Sentences: 16 lines

Sentence Length: 21 words per sentence (average)

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

Copyright Owner: © Benzinga

News ID: 23366006

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