Stock market today: Nasdaq, S&P 500 poised for rebound amid Amazon cheer, but jobs report looms

Published On Nov 1, 2024, 7:54 AM

U.S. stocks are showing signs of a potential rebound due to positive earnings reports from Amazon and Intel, which boosted investor sentiment following recent declines. Amazon's strong performance, particularly from its cloud AI business, helped lift its stock by over 6%. Intel also posted better-than-expected earnings, encouraging optimism about its future. Conversely, the markets await the upcoming jobs report that may impact interest rate expectations amid other economic uncertainties, including effects from recent hurricanes and labor strikes.

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Stock Forecasts

AMZNView AMZN chart on TradingView

Positive

Given the positive earnings from Amazon, expect its stock to trend upwards as investor confidence increases. With growth prospects in its cloud unit, Amazon may continue to attract buyers.

INTCView INTC chart on TradingView

Positive

Intel's earnings and outlook indicate a turnaround, suggesting its stock may benefit from improved sentiment around semiconductor demand. Investors may consider it a buying opportunity as its fundamentals appear strong.

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