The Nasdaq outperformed peers Friday as robust updates from Amazon.com and Intel lifted beaten-down megacaps, while investors also drew comfort from data that showed inflation rose largely in line with expectations. Amazon.com jumped 8.4% after the e-commerce giant reported...
The Nasdaq outperformed peers Friday as robust updates from Amazon.com and Intel lifted beaten-down megacaps, while investors also drew comfort from data that showed inflation rose largely in line with expectations. Amazon.com jumped 8.4% after the e-commerce giant reported a pick up in growth at its most profitable cloud business.
Meanwhile, data showed U.S. consumer spending increased more than expected in September, keeping it on a higher growth path heading into the fourth quarter. At 11:58 a.m. ET, the Dow Jones Industrial Average was down 141.09 points, or 0.43%, at 32,643.21, the S&P 500 was up 6.63 points, or 0.16%, at 4,143.86, and the Nasdaq Composite was up 141.43 points, or 1.12%, at 12,737.04.
Of the 245 companies in the S&P 500 that have reported earnings so far, 77.6% beat earnings expectations, LSEG data showed. Third-quarter earnings are expected to grow 4.3% from a year earlier.
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