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Equity Markets Higher Amid Amazon Rally
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Equity Markets Higher Amid Amazon Rally
Nov 4, 2024 11:22 AM

03:50 PM EDT, 11/01/2024 (MT Newswires) -- US benchmark equity indexes were higher ahead of Friday's close, aided by a post-earnings rally in Amazon.com ( AMZN ) shares.

The Nasdaq Composite was up 0.8% at 18,245.3, while the Dow Jones Industrial Average rose 0.7% to 42,054.2. The S&P 500 added 0.5% to 5,733.1. Among sectors, consumer discretionary led the gainers while utilities saw the biggest drop.

Amazon ( AMZN ) shares rose after the e-commerce giant late Thursday logged third-quarter results that surpassed Wall Street's estimates amid double-digit revenue gains in its cloud-computing platform and advertising business.

The US 10-year yield increased 9.6 basis points to 4.38%, while the two-year rate added five basis points to 4.22%.

US job creation fell well short of the Street's estimates in October amid an ongoing Boeing ( BA ) strike and potential hurricane-related disruptions, according to government data.

The US manufacturing sector remained in contraction territory in October amid output weakness ahead of the presidential election, two separate surveys from the Institute for Supply Management and S&P Global ( SPGI ) showed.

West Texas Intermediate crude oil rose 0.3% to $69.48 a barrel.

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