US Equity Markets Close Higher as Amazon Surges on Strong Q3 Results

MT Newswires Live
Yesterday

US equity indexes closed higher on Friday, bolstered by a surge in Amazon.com's (AMZN) shares following strong quarterly earnings.

* Amazon's stock jumped 9.6%, the biggest gain on the Nasdaq and the Dow, a day after Q3 results topped estimates by analysts. Morgan Stanley said the company's cloud computing division is positioned for faster growth.

* The Institute for Supply Management's Chicago Purchasing Managers Index rose to 43.8 in October from 40.6 in September and above the 42.0 reading expected in a Bloomberg survey, signaling a modest improvement in business activity despite remaining below the 50 threshold that separates expansion from contraction.

* December West Texas Intermediate crude oil rose $0.32 to settle at $60.89 per barrel, while December Brent crude, the global benchmark, was last seen up $0.07 to $65.07.

* First Solar (FSLR) shares surged 14%, the biggest gain on the S&P 500, a day after the company posted higher Q3 earnings and revenue.

* DexCom (DXCM) shares dropped 15% after several analysts cut their price targets following the company's Q3 results late Thursday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10