(Adds market details after close of trading)

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Indexes end up: Dow 0.09%, S&P 500 0.26%, Nasdaq 0.61%

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Wall Street boasts longest monthly winning streaks in

years

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Amazon ( AMZN ) jumps almost 10% as cloud growth beats expectations

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Warner Bros jumps almost 9% after Reuters report of

Netflix ( NFLX ) bid

By Sinéad Carew and Pranav Kashyap

Oct 31 (Reuters) - Wall Street's main stock indexes

closed higher on Friday, with their biggest boost coming from

Amazon's ( AMZN ) upbeat earnings forecast, but sentiment was dampened by

worries that the Federal Reserve is becoming more cautious about

cutting rates.

The S&P 500, the Nasdaq Composite and the Dow boasted weekly

gains and their longest monthly winning streaks in years.

Amazon ( AMZN ) shares rallied sharply, closing up 9.6%

after hitting an all-time high following its forecast for

quarterly sales above estimates. The online retailer and cloud

services giant helped the consumer discretionary sector close up

4% for its biggest one-day gain since May 12.

But elsewhere in megacap companies, Apple's ( AAPL ) shares

closed down 0.4% after its forecast for iPhone holiday quarter

sales surpassed Wall Street expectations was clouded by CEO Tim

Cook's flagging of supply constraints.

And in remarks that cooled investor hopes for policy easing,

Federal Reserve Bank of Atlanta President Raphael Bostic said on

Friday that a December rate cut was not locked in despite market

expectations for a cut. And Federal Reserve Bank of Cleveland

President Beth Hammack said she had opposed Wednesday's rate cut

because inflation is too high.

On Friday, traders were pricing in a 65% probability of a

December rate cut, down from 72.8% on Thursday and 91.7% a week

ago, according to CME Group's FedWatch tool.

"The theme today is pretty similar to what we saw yesterday.

It's earnings coming in a little better than expected but

tempered by a little more hawkish commentary from the Fed," said

James Ragan, co-CIO and director of investment management

research at D.A. Davidson.

Jake Seltz, portfolio manager for the Empiric LT Equity

team at Allspring, said investors "may have gotten in front of

their skis" in their bets for lower rates.

Some grocery stocks traded lower on Friday on worries about a

dip in November sales if federal food aid benefits, known as the

Supplemental Nutrition Assistance Program or SNAP, lapse in the

ongoing government shutdown.

Two federal judges ruled on Friday that President Donald Trump's

administration cannot suspend food aid for millions of Americans

during the shutdown, saying the government must use contingency

funds to pay for the benefits. But shares of grocer Kroger ( KR )

ended down 2.8% while food supplier Conagra Brands ( CAG )

lost 1.3% and Walmart ( WMT ) ended down 1% even after

the rulings.

The Dow Jones Industrial Average rose 40.75 points,

or 0.09%, to 47,562.87, the S&P 500 gained 17.86 points,

or 0.26%, to 6,840.20 and the Nasdaq Composite

gained 143.81 points, or 0.61%, to 23,724.96.

For the month, the S&P 500 added 2.27%, for a sixth

consecutive monthly gain, which was its longest such streak

since August 2021.

The Nasdaq Composite added 4.7% for October, capping a

7-month winning streak, its longest since early 2018. The Dow

rose 2.5% for the month, for its sixth straight monthly gain and

its longest monthly advance since January 2018.

For the week, the S&P 500 rose 0.7% while the Nasdaq added

2.24% and the Dow climbed 0.75%.

Of the 315 S&P 500 companies that have reported

third-quarter results so far, 83.2% have surpassed analysts'

estimates, according to LSEG data. That is well above the

historical average, where roughly 67% of firms beat forecasts.

With a lack of economic data from the government due to the

month-long shutdown, Kim Forrest, chief investment officer at

Bokeh Capital, said investors were keenly focused on earnings

reports.

"The government isn't giving us the data that we have become

dependent on, so we're using companies as we should by the way

for guidance about how the economy is going," she said.

In other moves, Warner Bros Discovery ( WBD ) jumped 8.7%

following a Reuters report that Netflix ( NFLX ) was actively

exploring a bid for the company's studio and streaming

business.

Netflix ( NFLX ) rose 2.7% after it unveiled plans for a 10-for-1

stock split.

Western Digital ( WDC ) closed up 8.7% after rallying to an

all-time high following its forecast of quarterly earnings above

Wall Street estimates. Shares of Solar panel maker First Solar ( FSLR )

surged 14.3% after surpassing expectations for

third-quarter sales.

Advancing issues outnumbered decliners by a 1.28-to-1 ratio

on the NYSE, where there were 159 new highs and 131 new lows.

On the Nasdaq, 2,773 stocks rose and 1,958 fell as advancing

issues outnumbered decliners by a 1.42-to-1 ratio. The S&P 500

posted 17 new 52-week highs and 34 new lows while the Nasdaq

Composite recorded 71 new highs and 159 new lows.

On U.S. exchanges, 21.03 billion shares changed hands

compared with the 21.13 billion average for the last 20

sessions.