US equity indexes rose Friday after a rally in Amazon (AMZN) shares boosted the consumer discretionary sector.

The Nasdaq Composite jumped 1.1% to 23,842.9, with the S&P 500 up 0.6% to 6,860.2 and the Dow Jones Industrial Average 0.2% higher at 47,599.5.

The consumer discretionary sector, home to Amazon, was the standout gainer intraday, up 4.2%. Utilities and consumer staples led the decliners.

Amazon reported higher Q3 results that topped analysts' estimates. Shares of the online retailer soared over 10% intraday, among the top gainers on the S&P 500, the Dow, and the Nasdaq.

Morgan Stanley said in a Friday note that Amazon is set to see faster growth at 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 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.