NEW YORK, Feb 5 — Another bumpy ride on Wall Street ended yesterday as Amazon’s positive earnings capped a run of mixed big-tech numbers, with the Nasdaq recovering much of its losses from the previous session and all three benchmarks ending the week in positive territory.
“These are eye-watering, stomach churning moves normally associated with penny stocks, and yet they are happening in companies with billion-dollar market caps,” said Michael Hewson, chief market analyst at CMC Markets UK. Pinterest Inc also jumped 11.2 per cent after its quarterly revenue beat estimates as retailers splurged on advertising during the holiday quarter.
Consumer discretionary was the leading sector though, up 3.7 per cent as it was bolstered by Amazon’s performance. The tech behemoth’s gains helped alleviate the drag of Ford Motor Co , which slumped 9.7 per cent after the automaker posted disappointing quarterly numbers.