Amazon carries Wall Street to the finish of another winning week and
month
[November 01, 2025] By
STAN CHOE
NEW YORK (AP) — Amazon led the U.S. stock market on Friday to the finish
of another winning week and month.
The S&P 500 rose 0.3% and pulled closer to its all-time high set on
Tuesday. It closed out a third straight winning week and a sixth
straight winning month, its longest monthly winning streak since 2021.
The Dow Jones Industrial Average added 40 points, or 0.1%, and the
Nasdaq composite gained 0.6%.
Amazon led the way and jumped 9.6%. The retail giant was by far the
strongest force lifting the market after reporting profit for the latest
quarter that blew past analysts’ expectations. CEO Andy Jassy said
growth for its booming cloud-computing business has accelerated to a
pace it hasn’t seen since 2022.
Amazon’s massive size of roughly $2.4 trillion means its stock movements
carry more weight on the S&P 500 than almost any other company’s.
Without it, the S&P 500 would have been down for the day.
Another highly influential stock, Apple, had less of an effect on the
market even though it’s bigger than Amazon. The iPhone maker, which is
worth more than $4 trillion, swung between modest gains and losses
through the day before finishing with a dip of 0.4%.
It likewise delivered a better profit report for the latest quarter than
analysts expected, though by not as big a margin as Amazon did. CEO Tim
Cook said it benefited from strong revenue for both its iPhone lineup
and its services offerings, which include its app store.
Elsewhere on Wall Street, online message board Reddit jumped 7.5% to
erase losses from earlier in the week after reporting stronger profit
and revenue for the latest quarter than analysts expected.
Coinbase Global rose 4.6% after the crypto exchange’s profit likewise
topped expectations.
Outside of earnings reports, Netflix added 2.7% after the video streamer
announced a move that could make its stock price more affordable but
still leave all its investors holding the same amount. Netflix will
undergo a 10-for-1 stock split, where it will give nine additional
shares to investors for each they own.
They helped offset a drop for AbbVie, which fell 4.5% even though the
medicine maker reported stronger profit for the latest quarter than
expected. Analysts pointed to how it’s beating forecasts by less than
before, and expectations may have been high after AbbVie’s stock came
into the day with a strong 28.4% gain for the year so far.
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Options trader Steven Rodriguez works on the floor at the New York
Stock Exchange in New York, Wednesday, Oct. 29, 2025. (AP Photo/Seth
Wenig)
 The pressure is on companies broadly
to deliver big growth in profits to justify the huge gains their
stock prices have made since April. Criticism has been growing that
the U.S. stock market has become too expensive.
A day earlier, the S&P 500 slumped 1% as investors appeared unnerved
by big increases in spending that Meta Platforms and Microsoft are
planning as part of the investment spree underway in
artificial-intelligence technology. Financial markets also appeared
skeptical that President Donald Trump’s trade truce with China would
put an end to tensions between the two countries.
Additional drops on Friday of 1.5% for Microsoft and 2.7% for Meta
were the two heaviest weights on the U.S. market.
All told, the S&P 500 rose 17.86 points to 6,840.20. The Dow Jones
Industrial Average added 40.75 to 47,562.87, and the Nasdaq
composite climbed 143.81 to 23,724.96.
In stock markets abroad, indexes dipped in Europe following a mixed
finish in Asia.
Stocks fell 1.4% in Hong Kong and 0.8% in Shanghai after data showed
factory activity in China contracted in October for a seventh
straight month.
Japan’s Nikkei 225, meanwhile, jumped 2.1% to another record after a
report showed industrial production rose more in September than
expected.
In the bond market, Treasury yields eased following their spurt
higher in the middle of the week, when Federal Reserve Chair Jerome
Powell warned that another cut to interest rates in December “is not
a foregone conclusion — far from it.”
The yield on the 10-year Treasury dipped to 4.09% from 4.11% late
Thursday, though it’s still above the 3.99% level it was at before
Powell’s warning.
Other central banks have halted cuts to rates or hinted at pauses
recently, and “it seems this is it for the 2025 easing season in
developed economies,” economists at Bank of America wrote in a BofA
Global Research report.
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AP Business Writers Teresa Cerojano and Matt Ott contributed.
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