Amazon Drives Stock Market Surge Amid Fed Rate Uncertainty

Wall Street's primary indices concluded the trading week on a positive note, primarily driven by Amazon's upbeat earnings expectations. The S&P 500, Nasdaq Composite, and Dow Jones not only secured weekly gains but also extended their longest monthly winning streaks in years, a testament to the robust performance.

Amazon shares soared by 9.6%, reaching an all-time high, following a higher-than-expected forecast for quarterly sales. This notably supported the consumer discretionary sector, marking its most substantial single-day gain since mid-May. However, Federal Reserve officials expressed caution, with potential rate cuts not set in stone, dampening some investor enthusiasm.

Investor focus on corporate earnings intensified amidst a federal shutdown, hampering access to regular economic data. Netflix rose on bid exploration for Warner Bros Discovery, while advances were seen in Western Digital and First Solar shares. Overall, advancers outnumbered decliners across major exchanges.