05:02 PM EDT, 10/31/2025 (MT Newswires) -- US equity indexes rose on Friday as a rally in Amazon ( AMZN ) boosted the consumer discretionary sector.

The Nasdaq Composite jumped 0.6% to 23,724.96, the S&P 500 rose 0.3% to 6,840.20, and the Dow Jones Industrial Average climbed less than 0.1% to 47,562.87. The consumer discretionary sector, home to Amazon ( AMZN ), was the standout gainer intraday.

Amazon ( AMZN ) reported higher Q3 results that topped analysts' estimates. Shares of the online retailer soared, among the top gainers on the S&P 500, the Dow, and the Nasdaq. Morgan Stanley said in a Friday note that Amazon ( AMZN ) is poised to see faster growth in its web services division due to expanding data center capacity, increasing chip availability, surging backlog, and software innovations.

Apple's ( AAPL ) fiscal Q1 sales will likely grow 10% to 12% year-over-year, and iPhone revenue is set to rise double digits, Chief Financial Officer Kevan Parekh said, after the company reported higher fiscal Q4 earnings and sales. Apple's ( AAPL ) market capitalization recently surpassed the $4 trillion mark.

In economic news, the Institute for Supply Management's Chicago PMI reading rose to 43.8 in October from 40.6 in September, stronger than the 42.0 print expected in a survey compiled by Bloomberg.

The Federal Open Market Committee should have maintained the target range for the federal funds this week rather than voting to lower it amid the current outlook and it may not need to lower rates further at the next meeting in December, Dallas Federal Reserve Bank President Lorie Logan said Friday. Logan is a non-voting member but will transition to voting next year.

"I would have preferred to hold interest rates steady at this week's FOMC meeting," Logan said. The labor market is cooling slowly, while inflation, which is above the Fed's 2% target, is likely to remain higher.

"This economic outlook didn't call for cutting rates," Logan said.

First Solar's ( FSLR ) Q3 earnings and sales jumped from a year ago. The company's share surged, making it a leader on the S&P 500. Coinbase Global ( COIN ) reported Q3 adjusted earnings and sales above market expectations -- shares advanced, making the company the third-biggest gainer on the S&P 500.