Tech stocks edged higher Friday, rebounding from Thursday's 1.5% drop in the Nasdaq 100 as upbeat earnings from mega-cap giants kept the rally momentum alive.
Amazon.com Inc. (NASDAQ:AMZN) surged more than 10% after reporting blowout results, with AWS revenue jumping 20% year over year to $33 billion. Apple Inc. (NASDAQ:AAPL) traded broadly flat as optimism over iPhone 17 sales was tempered by weaker demand in China.
All major U.S. indexes are on pace to close October in the green: the S&P 500 is up over 2.5%, the Nasdaq 100 nearly 5%, and the Dow Jones Industrial Average about 2.5%. For both the S&P 500 and the Dow, October marks a sixth consecutive month of gains — the longest streaks since August 2021 and January 2018, respectively.
Nvidia Corp. (NASDAQ:NVDA) rose almost 1% after announcing plans to supply more than 260,000 Blackwell AI chips to South Korea's government and companies including Samsung and Hyundai, bolstering their smart factory and AI initiatives.
First Solar Inc. (NASDAQ:FSLR) topped the S&P 500 leaderboard after posting stronger-than-expected earnings and raising guidance, while Netflix Inc. (NASDAQ:NFLX) climbed 3.5% — its best session since April — following news of a 10-for-1 stock split effective Nov. 17.
In currencies, the U.S. dollar index extended its advance for a third straight session as traders pared back expectations for a December Fed rate cut. Fed funds futures now price in a 63% probability of a 25-basis-point move at the Dec. 10 meeting.
Gold fell 1% to $3,980 and silver dropped 0.7% to $48.57. Meanwhile, cryptocurrencies rebounded after four days of declines, buoyed by upbeat earnings from Coinbase Global Inc. (NASDAQ:COIN) and MicroStrategy Inc. (NASDAQ:MSTR), up 6.5% and 7.7%, respectively. Bitcoin (CRYPTO: BTC) gained 1.1% to trade above $109,000.
| Major Indices | Price | Chg % |
| Nasdaq 100 | 25,865.27 | +0.5% |
| S&P 500 | 6,833.47 | +0.2% |
| Dow Jones | 47,466.22 | -0.1 % |
| Russell 2000 | 2,458.79 | -0.2% |
According to Benzinga Pro data:
Read now:
Photo: Shutterstock