Amazon's Profit Surge Raises Wall Street Hopes

Wall Street's main indexes soared as Amazon's strong retail performance boosted profits, countering Apple's declining China sales. Despite weaker U.S. job growth, the labor market remained steady ahead of the U.S. presidential election. Market volatility rose, but major indexes ended higher on retail gains and tech stock movements.

Amazon experienced a remarkable rise on Wall Street Friday as a surge in retail strength propelled its profits beyond expectations, lifting major stock indexes.

The tech giant's shares soared 6.5%, in stark contrast to Apple's 0.5% dip due to declining sales in China. Despite disappointing U.S. nonfarm payrolls data, investors remained focused on Amazon's success.

The stock market overlooked weaker job growth figures, anticipating more impact from upcoming Fed meetings and the U.S. presidential election results. Major indexes, including Dow, S&P 500, and Nasdaq, ended with gains driven by robust retail and tech sector performances.

(With inputs from agencies.)