Wall Street's Rebound: Amazon's Rise and Mixed Employment Signals

Major indexes on Wall Street climbed after a sell-off, powered by Amazon's strong earnings against weak U.S. job growth. Despite job market disruptions, investor optimism held due to Amazon and Apple's results. Concerns remain over China's sales impact on Apple, AI costs, and the upcoming U.S. election.

In a notable turnaround, Wall Street's key indexes rose on Friday, recovering from the previous day's losses. This rebound was largely driven by Amazon's impressive earnings, which offset concerns about weak job growth in the U.S. for October.

Amazon's stock saw a significant jump of 6.4%, following reports highlighting robust retail sales, which pushed profits beyond Wall Street expectations. Meanwhile, Apple experienced a 1.6% drop, making it the only member of the so-called Magnificent Seven to lose ground, amid investor anxiety over declining China sales.

Despite lower-than-expected job growth, with figures showing only 12,000 new jobs compared to the predicted 113,000, investor confidence remained steady. Analysts suggest the labor market is still robust, as fears around hurricanes and strikes are factored in. The upcoming presidential election and central bank rate decisions continue to influence market sentiments.

(With inputs from agencies.)