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

Published On Nov 1, 2024, 8:49 AM

The US stock market shows signs of recovery as investors react positively to Amazon's strong earnings report, which highlighted significant revenue growth in its cloud AI division. Additionally, Intel's performance has boosted optimism about its future despite past losses. However, the recent jobs data revealed that only 12,000 jobs were added in October, which was much lower than expected, largely due to strikes and weather impacts. Markets are reflecting this mixed sentiment, with futures for the Nasdaq 100 and S&P 500 set to rise sharply, suggesting a rebound from previous losses.

Read full article

Stock Forecasts

AMZNView AMZN chart on TradingView

Positive

Investors are likely to favor Amazon and Intel as growth narratives continue to drive interest, especially following positive earnings reports. Amazon's surge in its cloud business is particularly appealing amid growing demand for AI solutions, while Intel's improvement positions it as a recovering player in tech.

INTCView INTC chart on TradingView

Positive

Despite the poor jobs report, the overall economic outlook is expected to moderate, potentially leading to rate cuts that would support equities. Companies in the tech sector may experience increased investment interest as fundamentals show resilience against economic headwinds.

Related News

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

Nov 1, 2024, 7:54 AM

Upbeat earnings from Amazon are lifting the mood ahead of the crucial monthly jobs report.

AMZN
INTC

Nasdaq 100 futures rise as investors parse latest tech earnings, await jobs data: Live updates

Oct 31, 2024, 6:02 PM

The three major indexes finished Thursday and October's trading month in the red.

AMZN
MSFT
CVX

Amazon Reports Record $15.3 Billion Profit

Oct 31, 2024, 4:51 PM

The tech giant’s cloud computing business picked up steam and its retail business showed resiliency.

AMZN