Stock market today: Amazon leads Wall Street higher

NEW YORK — 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. The S&P 500 rose 0.4% Friday and recovered some of its loss from the day before, which was its worst in eight weeks. The Dow Jones Industrial Average gained 0.7%, and the Nasdaq composite added 0.8%. Amazon rallied after delivering a stronger profit for the latest quarter than analysts expected.

Intel, meanwhile, rallied 8.2% 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 7.6% 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.

The nearly unanimous expectation on Wall Street remains for the Federal Reserve to cut its main interest rate by a quarter of a percentage point next week. But the weaker-than-expected jobs report wiped out the slim chance traders had been seeing of the Fed holding rates steady, according to data from CME Group.

The yield on the 10-year Treasury, which also takes future economic growth and other factors into account, likewise rose after a knee-jerk drop. It climbed to 4.36%, up from 4.29% late Thursday. The hope on Wall Street is that the economy will still avoid a recession, even with that expected slowdown in the job market, thanks in part to coming cuts to interest rates by the Fed. The overall economy has so far remained more resilient than feared.

Österreich Neuesten Nachrichten, Österreich Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Stock market today: Gains for Amazon and Intel help send Wall Street higherNEW YORK (AP) — Amazon and Intel are helping to pull U.S. stock indexes higher, while yields skid in the bond market following a surprisingly weak jobs report that was marred by hurricanes and other unusual occurrences. The S&P 500 was 0.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »

Stock market today: Wall Street slips below its record highsNEW YORK (AP) — U.S. stocks are edging down from their records. The S&P 500 slipped 0.3% in early Thursday trading. The Dow Jones Industrial Average was down 65 points after likewise setting an all-time high the day before.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »

Stock market today: Asian markets are mixed after another winning close on Wall StreetBANGKOK (AP) — Asian shares were mixed on Monday after U.S. stocks rose to records to close out their latest winning week. U.S. futures also were mixed and...
Herkunft: YahooFinanceCA - 🏆 47. / 63 Weiterlesen »

Stock market today: Wall Street opens lower as Big Tech stocks pull backNEW YORK (AP) — Wall Street is feeling the downside of high expectations as Microsoft and Meta Platforms lead U.S. stock indexes lower despite delivering strong profits for the summer. The S&P 500 was down 0.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »

Stock market today: Wall Street ends mixed even as the Dow ekes out another recordNEW YORK (AP) — U.S. stocks ended on a mixed note following the latest signals that the U.S. economy continues to hum. The S&P 500 closed little changed Thursday. The Dow Jones Industrial Average added 0.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »

Stock market today: Wall Street opens lower as its recent rally cools some moreNEW YORK (AP) — Stocks are opening lower as more momentum comes out of Wall Street’s record-breaking rally. The S&P 500 was 0.3% lower early Wednesday. It’s coming off two small losses since setting an all-time high on Friday.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »